Crypto News: Top Crypto Executives Meet Senate Democrats Amid Regulatory Deadlock
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Crypto executives meet Senate Democrats to discuss stalled market structure legislation, DeFi oversight, and stablecoin policy amid rising industry backlash. Top crypto executives will meet with Senate Democrats this week. The key goal is to discuss crucial crypto market structure legislation actively. This meeting is critical because regulatory negotiations have been recently delayed. The delay comes after massive backlash from the industry. This is centered on the help of a leaked Democratic proposal. Industry Leaders Convene to Discuss Market Structure Clarity Therefore, the leadership of this critical meeting is now brought about by Senator Gillibrand. It includes a lot of prominent crypto C-suites actively. Specifically, some of the key attendees include Coinbase CEO Brian Armstrong. Moreover, Chainlink’s CEO Sergey Nazarov is also joining. The list also includes Galaxy Digital CEO Mike Novogratz. Related Reading: Brian Armstrong Rallies DC for Crypto Rules to Keep Innovation in the U.S. Plus, Kraken and Uniswap executives will participate at this point. Furthermore, the expectation is of Stuart Alderoty of Ripple. Circle’s Chief Strategy Officer, Dante Disparte, will also be attending at this point. Thus, the gathering brings strong industry voices to bear on the capital at this time. The purpose is to successfully chart an effective and clear path forward. The backdrop against which this meeting is taking place is difficult. Negotiations with Republican counterparts are lagging badly. As a result, the primary market structure bill is subject to continued delays. This proposed legislation is an attempt to apportion jurisdiction. It involves the active involvement of SEC and CFTC. However, a recently leaked Democratic proposal caused major friction. Specifically, the six-page draft provided for stringent oversight of Decentralized Finance (DeFi). The proposal was to prevent illicit activity effectively. This created immediate criticism from the crypto community. Crypto Roundtable to Tackle Market Structure and DeFi…
