U.S. Lawmakers Continue Contentious Negotiations on Crypto Market Structure
- Negotiations on market structure legislation are ongoing as the U.S. government shutdown enters its second week.
- Senate Democrats proposed regulations for DeFi projects, requiring those interacting with customers to register as brokers.
- The proposal includes a provision exempting developers from liability if they do not profit from their open-source projects.
- Industry stakeholders have expressed strong opposition, arguing the regulations could harm the DeFi sector.
- A markup hearing originally scheduled for September has been postponed to October, with uncertainty about its timing.
The crypto industry is closely monitoring these legislative developments, particularly regarding how DeFi will be regulated amid ongoing partisan tensions in Congress.
As negotiations continue, there is growing pessimism that comprehensive market structure legislation will be finalized before spring, especially given the current government shutdown and lack of progress reported by lawmakers.
