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On October 23, 2025, more than a dozen crypto executives and US lawmakers converged in Washington for talks on the halted Crypto Market Structure Bill. The secretive meetings were a sign of legislative revival that might alter the regulation of digital commodities, with Bitcoin and Ethereum having been included in the change.
On the same day, two sessions were held. One was attended by Senate Democrats who are necessary for moving the bill past the 60-vote threshold. The other brought together the business leaders and the Republican legislators who have been urging the House to pass their version of the bill.
Politicians across the aisle recognized the necessity of well-defined regulations for the rapidly expanding cryptocurrency market as the only point of agreement. The conversations took place during a period when the government shutdown was only partially occurring, and the time to finalize the measure was already running out for this year.
Chainlink co-founder Sergey Nazarov stated that more than ten senators attended the sessions, all of whom were eager to complete the legislative process. “There’s a sufficient level of Democratic support,” he said, adding that lawmakers appeared ready to commit their time and energy to make the bill a success.
The discussions lasted almost three hours and featured prominent individuals, including Coinbase CEO Brian Armstrong and Senators Chuck Schumer and Tim Scott. The two legislators urged the authorities to quickly address important issues like the regulation of decentralized finance and the fight against illegal transactions.
Armstrong characterized the meeting as fruitful and pointed to the strong bipartisan support for providing Americans with a clear framework for crypto adoption. He said, “It’s a matter of great importance for the 50 million crypto users in the US to see this happen.”Disputes Over DeFi Rules Still Loom
Tensions surfaced over Democratic proposals for decentralized finance, which many in the industry believe could choke innovation. Drafts circulating earlier this month called for Know Your Customer checks on DeFi app frontends and the removal of certain developer protections.
Chainlink’s Nazarov acknowledged the friction but called it temporary. He said most policy gaps could be closed with continued discussion. Blockchain Association CEO Summer Mersinger warned that the proposed rules might push responsible development overseas if enacted without revision.
“The disappointing proposal would effectively ban decentralized finance and wallet development,” she said, urging lawmakers to keep negotiating until a workable plan emerges. Her statement reflected growing anxiety across the sector about losing ground in global innovation.
Senator Tim Scott urged colleagues to move quickly despite the political gridlock. He called for a markup session to move the bill forward before the end of the year.
If passed, the proposal could bring Know Your Customer rules, new DeFi restrictions, and a compliance structure that defines how tokens and protocols operate under US law.
Armstrong said only “about ten percent” of issues remain open, but believes collaboration will close the gap. Industry leaders left Washington cautiously optimistic that the long-debated framework might finally advance.
Will Congress manage to deliver the first clear rulebook for America’s $2 trillion crypto market before the year runs out?
The Washington meetings marked a critical moment for the Crypto Market Structure Bill, showing growing bipartisan unity toward digital assets regulation. With both parties and industry leaders aligned, the outcome could define how decentralized finance and cryptocurrencies operate within US law in the coming year.
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