After weeks of stalled negotiations, the push to pass a sweeping U.S. crypto market structure bill may not be dead after all. According to reporting from journalist Eleanor Terrett, Democratic staffers described a recent meeting as “positive” and “arguably the most productive Democratic meeting to date.”
This story is an excerpt from the Unchained Daily newsletter.
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Senate Majority Leader Chuck Schumer attended, stressing the importance of continued engagement with the industry and urging lawmakers to keep momentum alive. The effort, which many thought was on life support just weeks ago, is now seen as very much back in play.
Behind the scenes, crypto firms are also adjusting their strategy. Bloomberg reported that companies are floating new compromises aimed at breaking the Senate deadlock, particularly around stablecoins
Proposals include giving community banks a larger role by allowing them to hold stablecoin reserves or issue tokens through partnerships. The goal is to ease concerns that stablecoin rewards could pull deposits away from traditional banks, a key sticking point for critics of platforms like Coinbase.
While no agreement has been reached, both sides remain at the table, and lawmakers say talks are ongoing.
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