Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
Share
A group of the crypto industry’s most prominent executives is scheduled to meet with Senate Democrats on Wednesday to discuss the future of US crypto market structure legislation.
Key Takeaways:
- Senator Kirsten Gillibrand will host a roundtable with top crypto CEOs to revive stalled talks on US crypto market structure legislation.
- Industry leaders from Coinbase, Chainlink, Ripple, Uniswap, and others are expected to attend.
- The discussion comes amid growing partisan divide, with Democrats and Republicans proposing competing regulatory frameworks.
The meeting, led by Senator Kirsten Gillibrand, comes as bipartisan negotiations over comprehensive crypto rules remain stuck in Congress, according to journalist Eleanor Terrett.
Gillibrand, a co-sponsor of the Responsible Financial Innovation Act alongside Senator Cynthia Lummis, has emerged as one of the few Democrats openly advocating for regulatory clarity in the sector.
Top Crypto CEOs to Join Senate Democrats for Market Structure Roundtable
Executives expected to attend include Coinbase CEO Brian Armstrong, Chainlink’s Sergey Nazarov, Galaxy Digital’s Mike Novogratz, Kraken’s David Ripley, Uniswap’s Hayden Adams, Circle’s Dante Disparte, Ripple’s Stuart Alderoty, Jito’s Rebecca Rettig, a16z Crypto’s Miles Jennings, and Solana Policy Institute’s Kristin Smith.
Terrett added that more attendees may join.
The meeting reflects ongoing engagement between lawmakers and industry leaders even as the legislative process slows.
Analysts at TD Cowen warned last week that delays in negotiations could push any progress on crypto market structure legislation beyond next year’s midterm elections.
While the Genius Act, which focused on AI regulation, passed swiftly, crypto legislation has faced political gridlock.
Senate Republicans have put forward their own bill outlining jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), while introducing the concept of “ancillary assets” to determine which tokens should not be treated as securities.
Democrats, meanwhile, are said to be drafting a competing framework.
A leaked six-page proposal reportedly focused on curbing illicit activity in DeFi has drawn criticism from both Republicans and the crypto industry, who argue it could stifle innovation.
Gillibrand’s upcoming roundtable could mark a renewed effort to bridge the divide and bring the long-awaited crypto market structure bill back to the legislative forefront.
CFTC Adds Crypto Leaders to Global Advisory Committee
Last month, the US Commodity Futures Trading Commission (CFTC) named some crypto leaders as new members to its Global Markets Advisory Committee (GMAC) and its Digital Asset Markets Subcommittee (DAMS).
Among the latest appointees to DAMS are Katherine Minarik of Uniswap Labs, Avery Ching of Aptos Labs, James J. Hill of BNY, and Ben Sherwin of Chainlink Labs, key figures in blockchain infrastructure, legal policy, and institutional crypto strategy.
The appointments signal the CFTC’s continued push to incorporate industry expertise into policymaking around digital assets.
In September, Congressman Zachary Nunn asked the US Treasury to launch a national security review of Chinese firms Bitmain and Cango, citing concerns over their expanding presence in the US crypto mining sector.
In a letter sent to Treasury Secretary Scott Bessent, Nunn pointed to opaque ownership structures, potential state ties, and risks to national infrastructure as grounds for a Committee on Foreign Investment in the United States (CFIUS) investigation.
