- David Sacks met with Senate Republicans to push bipartisan progress.
- Lawmakers and industry leaders, including major crypto firms, resumed discussions.
- Renewed Capitol Hill activity signals growing urgency to define SEC and CFTC roles in crypto regulation.
Crypto and AI Czar David Sacks met Wednesday morning with Republican members of the Senate Banking Committee to accelerate progress on the long-awaited crypto market structure bill. The meeting that was announced by Eleanor Terret focused on building bipartisan consensus to establish clear federal rules for digital assets. Lawmakers have renewed discussions amid growing calls from both parties to finalize a framework governing cryptocurrency markets in the United States.
The meeting followed months of debate in Congress regarding how to divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Officials aim to clarify each agency’s responsibilities to reduce the confusion faced by crypto firms and investors. According to sources, the session also addressed reservations raised by Senator John Kennedy, who previously questioned the bill’s potential effects on financial institutions.
Capitol Hill Shows Renewed Activity on Crypto Policy
The discussions form part of a wider set of events on Capitol Hill this week focusing on crypto regulation. Two additional roundtables were planned, one organized by Senator Kirsten Gillibrand and another hosted by Senator Tim Scott. Both gatherings aim to bring lawmakers and industry executives together to address concerns about investor protection and innovation within the digital asset sector.
Federal Reserve Governor Christopher Waller also proposed a payments framework supporting responsible crypto innovation, indicating coordination across several branches of government. The collective activity marks one of the most concentrated periods of crypto policy debate this year.
Industry Leaders Participate in Closed-Door Sessions
The roundtable led by Gillibrand featured the executives of Coinbase, Ripple Labs, Chainlink Labs, and Uniswap Labs. The participants talked about the future of decentralized finance and how DeFi projects ought to be run in the future with regulations. According to sources close to the negotiations, both Democratic and Republican members consider the new talks as the only way to move the legislation ahead by the end of the year.
The representatives of the industry have requested legislators to move swiftly with references to the persistent uncertainty that impacts trading platforms, stablecoin issuers, and institutional investors. Lack of federal clarity has led many companies to deal with overlapping or conflicting state-level regulations.
Bipartisan Cooperation Seen as Key to Improvement
The fact that Sacks addressed the Senate Republicans highlighted an attempt to bring both sides on the same legislative agenda. Policymakers emphasized the importance of collaboration in developing long-lasting regulations that balance innovation and responsibility. Some committee members again expressed that bipartisan consideration is still important in terms of the passage of the bill through Congress.
The hearings are an indication that regulation of crypto is a priority in Washington. As the market continues to grow volatile and as pressure mounts on regulatory bodies to exercise oversight, lawmakers and regulators seem determined to establish a comprehensive framework for digital assets before the end of the legislative term.
