Wall Street industry organization SIFMA and several representatives from the crypto industry held a closed-door meeting on Thursday to coordinate disagreements on the Senate's Crypto Market Structure Act, which is approaching a critical voting stage. Sources say that both sides have made some "progress" on regulatory exemptions related to DeFi, but there are still clear disagreements on issues such as yield-bearing stablecoins. Senate Banking Committee Chairman Tim Scott plans to conduct a key markup of the bill next Thursday. Industry insiders generally believe that the bill needs bipartisan support at this stage to continue moving forward. (Decrypt)
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Wall Street industry organization SIFMA and several representatives from the crypto industry held a closed-door meeting on Thursday to coordinate disagreements on the Senate's Crypto Market Structure Act, which is approaching a critical voting stage. Sources say that both sides have made some "progress" on regulatory exemptions related to DeFi, but there are still clear disagreements on issues such as yield-bearing stablecoins. Senate Banking Committee Chairman Tim Scott plans to conduct a key markup of the bill next Thursday. Industry insiders generally believe that the bill needs bipartisan support at this stage to continue moving forward. (Decrypt)