Crypto Regulation Stalls in Senate as Negotiations Hit Hurdle

Efforts to establish clear regulatory guidelines for the cryptocurrency industry in the United States are encountering significant hurdles in the U.S. Senate. This comes after the introduction of a draft bill, the ‘Decentralized Finance Regulatory Preliminary Plan,’ by Senate Democrats earlier this month, which sparked strong opposition from the cryptocurrency sector. Negotiations between Republicans and pro-cryptocurrency Democrats have stalled, adding to the uncertainty regarding the bill’s potential passage before the year’s end as Congress focuses on resolving government shutdown issues.