The Polish government reintroduced crypto legislation without changing a single period, after telling the president he needs to sign it to avoid Russian-linked security threats.
Political progressives have joined forces to oppose current versions of the industry-backed legislative effort in the Senate.
Senators engaged in bipartisan discussions regarding the anticipated crypto market structure bill met on Tuesday amid ongoing disagreements about the timing of a committee vote on the legislation. According to a report from Politico, Sen. Cynthia Lummis, a key negotiator for the Republican side, expressed optimism that a new draft of the bill could be released this week. Lummis aims to have the bill ready for markup before Congress adjourns for the holiday break, stating, “Knock on wood, I hope to share a draft at the end of this week that reflects our best efforts to date.” Lummis Urges Swift Progress On Crypto Legislation During a panel discussion hosted by the Blockchain Association, Sen. Lummis emphasized the urgency of progressing with the legislation. She remarked that it might be advantageous for lawmakers to finalize a product and proceed with the markup next week, allowing everyone to take a break for the Christmas holidays. In related developments, Politico reported that Senate Banking Republicans submitted a proposal to their Democratic counterparts last week, suggesting over 30 amendments to a previous draft of the legislation. Related Reading: Did 2025 Mark A Bear Market For Bitcoin? Predictions Point To A $150,000 Rally In 2026 The three-page document, which comes from GOP senators on the Banking Committee, seeks to maintain certain elements of the original bill while incorporating adjustments acceptable to Democratic lawmakers. Senate Banking Committee Chair Tim Scott and other Republicans are eager to finalize the markup next week, although some Democrats have expressed skepticism about this ambitious timeline. Following a meeting on Monday, Democrats sent a response to the GOP offer, but details of their feedback remain unclear. Concessions In GOP’s Proposal The GOP’s proposal outlines the aspects from a September crypto market structure framework that they agree to integrate into a bipartisan bill, hoping to reconcile differences with their Democratic colleagues. The proposal includes a two-column table delineating 38 concessions the Republicans are willing to make, in exchange for retaining or modifying 32 sections of the original Responsible Financial Innovation Act discussion draft. Related Reading: Bitcoin Sees Largest Annual Exchange Drop: Over 400,000 Coins Gone Among the concessions is language that reflects White House approval, which could address Democratic concerns regarding appointments to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Additionally, the proposal contains ethics provisions aimed at addressing scrutiny over the Trump family’s business connections in the crypto sector. However, Lummis noted a previous ethics proposal she negotiated with Sen. Ruben Gallego was rejected by the White House, and she plans to collaborate further with Democrats to revisit the issue. Other notable concessions from the Republicans include a section on consumer protection standards for digital assets, proposed language regarding bankruptcy, the establishment of a federal baseline for crypto ATMs, and risk management standards for digital asset intermediaries. Featured image from DALL-E, chart from TradingView.com
The incoming policy chief arrives as the crypto industry seeks to influence the market structure bill in Congress, including its heavy DeFi implications.
The Blockchain Association's COO, Allie Page, is leaving to be the inaugural director of AIP, which is focused on educational events for decision makers.
The Australian government introduced digital assets legislation to modernize its financial system and safeguard consumers.
Rep. Warren Davidson introduced legislation that allows bitcoin tax payments without incurring capital gains to beef up the U.S. Strategic Bitcoin Reserve.
Industry groups signed a letter to President Donald Trump calling for new tax policy and agency action on initiatives apart from Congress' market structure work.
Senator Elizabeth Warren is maintaining political heat on President Trump's World Liberty Financial business interests in a letter to the Treasury and DOJ.
In the realm of the so-called Howey Test to define investment contracts under SEC jurisdiction, Atkins says there should be a clearer path for crypto involvement.
The industry's staunch ally (and sometimes business partner) in the White House has brought a flood of drama, both good and bad.
Several top crypto executives met with senators to hash out next steps on moving forward with the bill that would regulate U.S. crypto markets.
The closure of the federal government isn't yet making a significant dent in the digital assets sector's interactions, but it's doing damage to long-term goals.
GOP lawmakers are scheduling a followup meeting with crypto CEOs after they meet this week with Senate Democrats on the market structure bill, sources say.
Some of the top digital assets execs are heading to a meeting this week with U.S. Senate Democrats to see about getting the market structure bill moving.
The crypto industry has entered the long slog of rule writing on the stablecoin law, and the Treasury is inviting input on how to deal with illicit activity.
The House bill to regulate U.S. crypto was a big win for the industry, but it's the current Senate effort that's likely to be the one that rules the sector.
Hill and Senator Cynthia Lummis agree the earlier stablecoin effort should be edited by the pending market structure bill.
Jonathan Gould, chief of the Office of the Comptroller of the Currency, said his agency is trying to halt debanking while also writing stablecoin regulations.
The executive director of the President's Council of Advisers on Digital Assets told CoinDesk it's "pedal to the metal" time on legislation and the bitcoin reserve.
Lobbyists and firms such as Coinbase, Kraken and Ripple told key senators the sector can't support a market structure bill without software developer protection.
The lawmaker's objections over crypto abuses are seen as a major hurdle needing to be cleared before the Senate's crypto market structure bill can move.
As U.S. President Donald Trump's chairman nominee, Brian Quintenz, remains in a confirmation holding pattern, the CFTC starts another "crypto sprint."
Despite this month's trial conviction of Tornado Cash developer Roman Storm, the DOJ signaled to a crypto crowd in Wyoming that it's not chasing developers.
The Fed vice chair who leads banking oversight, Michelle Bowman, comes across as a crypto evangelist as she echoes industry views on its regulatory needs.
The American Innovation Project is the latest digital assets advocacy organization to launch, but its tax status could help it find a niche.
The new stablecoin law called for the Treasury engagement on detecting illicit crypto activity, so the department is opening a comment period.
U.S. bankers are pushing hard for revisions of the new stablecoin law even before regulators have begun the first steps of writing the rules.
The White House's crypto group will apparently be led again by an ex-college football star-turned-politician, though this one has some deeper DC roots.
The report on the government's crypto plans doesn't offer a ton of surprises, mostly echoing familiar policy work, and it's got nothing new on the crypto stockpiles.