According to Odaily Odaily, negotiations in the U.S. Senate regarding the cryptocurrency market structure bill may be delayed until January next year due to unresolved disagreements.
The legislative text has been circulating privately among industry insiders, and industry executives briefly reviewed the current draft at a White House meeting on Thursday, chaired by Patrick Witt, President Donald Trump's crypto advisor. Negotiations involve Senate Democrats and Republicans, the White House, and the crypto industry, and four major points of contention remain to be resolved. These include ethical considerations regarding government officials' involvement in digital assets, particularly President Donald Trump's involvement; whether stablecoins should be pegged to yield; and the Securities and Exchange Commission's (SEC) jurisdiction over tokens and decentralized finance (DeFi).
Patrick Witt posted on the X platform that the White House and Senate Republicans are "aligned on the need to protect software developers and DeFi." Despite the differences, the intensity and pace of negotiations remain high. Digital Chamber CEO Cody Carbone stated that all parties have a genuine desire and motivation to complete the legislation, and tangible progress is expected by early next year.
