WASHINGTON D.C. — Members of the Senate Banking Committee have expressed renewed optimism regarding the status of landmark crypto legislation, asserting that the passage of a comprehensive digital asset framework is ‘closer than ever,’ even as procedural roadblocks and technical disagreements continue to delay the bill’s introduction. The momentum reportedly stems from increased bipartisan consensus on core issues, including the regulation of stablecoins and establishing clearer consumer protection requirements following a year marked by high-profile market failures.
Lawmakers have emphasized that the urgency to legislate has only grown. Despite the broad agreement on the need for federal intervention, the Committee faces significant headwinds in harmonizing jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Furthermore, debates over specific provisions addressing centralized exchange custody rules and algorithmic stablecoins remain points of friction.
A senior Committee member stated during a recent briefing that ‘the conversations are serious, detailed, and productive, unlike the initial exploratory talks. We are negotiating the final details, not the foundational principles.’ This sentiment reflects a growing political necessity to bring clarity to the digital asset market, ending the long period of regulatory uncertainty that critics say has stifled innovation in the U.S.
Setbacks, including delays in obtaining necessary economic impact studies and difficulties coordinating with other jurisdictional committees, have pushed back initial timelines. However, proponents are signaling a strong commitment to introducing the finalized bill before the current legislative session ends, aiming to codify federal standards that prioritize market integrity and investor security.
Source: Senate Banking Committee lawmakers say crypto bill is ‘closer than ever’ despite setbacks
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