U.S. Crypto Bill Stalls Amid Partisan Gridlock
Senate negotiations over landmark cryptocurrency legislation have stalled as lawmakers clash over regulatory jurisdiction. The impasse persists despite Congress passing a targeted stablecoin bill earlier this summer, revealing deeper divisions about how to oversee the $1.7 trillion digital asset market.
Ohio Senator Bernie Moreno voiced frustration at Monday's Blockchain Association Policy Summit, stating: 'I don't want to push through a bad bill just to say we passed something.' The Republican's remarks underscore growing tensions as Democrats prepare for Tuesday negotiations on agency roles.
The deadlock centers on whether the SEC or CFTC should take primary oversight of crypto markets—a decision with billions in market consequences. Industry participants now brace for prolonged uncertainty as the 118th Congress approaches its final working months.
