U.S. senators are rushing to negotiate the remaining key points in the crypto regulation bill, with a deadline only 2 to 14 days away. An informed source said that if consensus is not reached soon, the bill risks falling apart completely.
The Senate Banking Committee is currently focusing on two major issues: how to handle stablecoin yields and conflicts of interest related to President Donald Trump and his family’s crypto projects. The bill aims to delineate jurisdiction between the SEC and CFTC, as well as clarify the concept of “ancillary assets” to determine which types of crypto are not securities.
Without strong bipartisan support in the committee, the bill will struggle to pass the Senate due to the minimum requirement of 60 votes. With the midterm elections approaching, political pressure from the crypto industry and PACs is increasing, making next week a critical period for the future of the crypto legal framework in the U.S.
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