🇺🇸 Crypto sector faces deadlock in the US Senate over regulation

Negotiations between leaders of the crypto industry and US senators have stalled again this week in Washington. Despite separate meetings with Democrats and Republicans, the divergences over the market structure bill remain deep, leaving the regulatory future of cryptocurrencies in the US uncertain.

According to sources interviewed by Decrypt, Democrats were upset by the leak of an internal proposal regarding DeFi and criticized the negative reaction it received on social media. Meanwhile, Republicans are pushing for a swift advancement — warning that if the bill is not voted on by November, it may be pushed to 2026.

Among those present were Brian Armstrong (Coinbase), Mike Novogratz (Galaxy), Miles Jennings (Andreessen Horowitz), and Sergey Nazarov (Chainlink). The group sought to align points on creating a clear framework for stablecoins, DeFi, and digital tokens, but left without consensus.

📜 Who should regulate the sector?

The main clash revolves around which agency will have authority over the market: the CFTC or the SEC. The current bill would grant broad powers to both, but recent measures by the Trump administration — which reduced the independence of these institutions — create uncertainty.

🔹 Democrats want guarantees of strict oversight and bipartisan commissioners.

🔹 Republicans advocate for innovation and less government interference.

Sergey Nazarov of Chainlink stated that the industry is trying to maintain political neutrality:

“Democrats fear that the crypto sector is an extension of the Republican Party — but, in fact, that is not the case.”

The 22-day shutdown of the federal government budget also delays discussions, while the market watches with apprehension.

📈 The outcome of this deadlock could determine who — and how — will regulate the US crypto economy in the coming years, influencing global policies and the country's attractiveness for Web3 innovation. $BNB

#eua #Blockchain #defi #coinbase #Chainlink