Following White House discussions last week, cryptocurrency executives and lobbyists met U.S. senators on December 17, hosted by Senate Banking Chair Tim Scott, to advance the crypto market structure bill amid ongoing DeFi and ethics disputes. Attendees expressed optimism for January progress despite unresolved issues.
Building on last week's White House review of a draft bill—marked by disagreements over ethics rules, stablecoins, SEC authority, and DeFi protections—crypto industry leaders convened with Senate lawmakers on December 17 in Washington, D.C. Hosted by Sen. Tim Scott (R-SC), the meeting included executives from Coinbase, Kraken, Ripple, a16z, and Chainlink, plus groups like the Blockchain Association, Digital Chamber, and DeFi Education Fund. Bipartisan participation featured Democrats, Goldman Sachs, BNY, and SIFMA reps.
Coinbase VP Kara Calvert called it a 'bipartisan showing of interest and forward momentum,' adding, 'We are going to get to a markup, and we need to find areas of compromise.' Scott noted senators are 'working through the text in a thoughtful, deliberate way.' No resolutions emerged before the holiday pause, but the session positioned talks for January resumption, even as budget deadlines loom.
Digital Chamber CEO Cody Carbone, echoing prior optimism, said Senate leaders are 'committed to finding common ground' on digital asset rules. The bill follows this year's stablecoin law but faces hurdles, including Sen. Elizabeth Warren's push for DeFi national security probes and concerns over Trump appointees.
