According to analysts at TD Cowen, progress in the US Senate on crypto market structure legislation may have to wait until after the midterm elections. Republicans and Democrats disagree on how to regulate the crypto industry, and negotiations are not going well. Republicans have proposed dividing the jurisdiction of crypto assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and defining "subsidiary assets" to identify non-securities cryptocurrencies. Democrats have proposed plans to prevent the illegal activities of decentralized finance, but have been questioned by Republicans and the industry.
TD Cowen pointed out that while procedural differences will not stand in the way of reaching an agreement, senators are in no hurry to move forward, and the legislation is expected to be delayed. Demands within the Democratic Party to ban senior officials and their families from owning crypto businesses also make it more difficult to legislate.
Analysts: US crypto market structure legislation may have to wait until after the midterm elections
2025-10-13 22:10:16
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