US Senator Moreno Calls Crypto Bill Negotiations "Quite Frustrating" as Senate Pushes Hard to Meet Year-End Goals

Jinse Finance reported that in recent weeks, negotiations over comprehensive regulatory legislation for the crypto industry have been "quite frustrating," according to Ohio Republican Senator Bernie Moreno. Democrats and Republicans are scheduled to meet on Tuesday. Although U.S. lawmakers passed a stablecoin regulatory bill this summer, there is still resistance to a more comprehensive crypto market structure bill—which aims to clarify the regulatory responsibilities between the SEC and CFTC and implement consumer protections. At the Blockchain Association Policy Summit held in Washington, D.C. on Monday, Moreno elaborated on what should be included in this broader bill. "I don't want to push through a bad bill just to show off that we passed something," Moreno said, adding, "Sometimes having no agreement is better than reaching a bad one." Moreno plans to meet with Democrats on Tuesday morning. "We'll see what they think, but the past few weeks have indeed been quite frustrating," he said. Both chambers of Congress—the House and the Senate—have different versions of the market structure bill, which still need to be reconciled.