EddieJayonCrypto

 23 Oct 25

tl;dr

Leading cryptocurrency executives met with U.S. lawmakers to push for urgent action on a stalled digital asset regulation bill, emphasizing the need for clarity to prevent industry stagnation and ensure bipartisan legislative progress.

**Top Crypto Executives Urge U.S. Lawmakers to Act on Stalled Digital Asset Regulation Bill** In a bid to accelerate regulatory clarity for the digital assets sector, leading figures from the cryptocurrency industry met with U.S. lawmakers on Wednesday, pushing for progress on a stalled bill that aims to establish a framework for how digital assets are governed. The discussions highlighted growing urgency as the industry seeks to navigate a regulatory landscape marked by ambiguity and political gridlock. The meeting, attended by Senate Banking Committee Chairman Tim Scott, Senators Kirsten Gillibrand and Chuck Schumer, and industry leaders including Kraken co-CEO David Ripley and Uniswap Labs’ Hayden Adams, underscored the rising recognition of crypto’s economic significance. Sergey Nazarov, CEO of Chainlink, described the session as “not the usual roundtable,” noting the presence of “more senior senators” who were actively engaged. “They realize the economic value of the industry is high, so they need to address how they are going to deal with it, they need to address it correctly,” Nazarov said. The meeting unfolded in two parts: a nearly 90-minute session with Democratic lawmakers and a shorter, hour-long discussion with Republicans. Both groups focused on the stalled market-structure legislation, which was originally slated for markup in late October but has been delayed amid the federal government shutdown. The bill seeks to clarify whether digital assets are classified as commodities or securities, a critical distinction that would determine which federal agencies—such as the SEC or CFTC—oversee them. **Democrats and Republicans Take Different Tones** During the Democratic session, lawmakers probed questions around decentralized finance (DeFi) and concerns about illicit use of crypto. Senator Schumer briefly joined the discussion, with Nazarov noting the tone was “serious” and that lawmakers were focused on balancing innovation with oversight. In contrast, the Republican meeting saw more direct support for the industry. While the central topic remained the same, the Republicans appeared more receptive to the need for regulatory clarity. Jeff Naft, a spokesperson for the Senate Banking Committee’s Republican side, called the meeting “productive,” emphasizing that stakeholders provided feedback and reaffirmed their commitment to a bipartisan approach. He also urged Democrats to finalize a markup date for the bill, criticizing delays as “dragging their feet.” **Industry Demands Clarity** For crypto firms like Coinbase and Kraken, the lack of regulatory clarity has created significant uncertainty. The market-structure legislation is seen as vital to defining compliance requirements and the agencies responsible for oversight. Without it, companies face hurdles in operating within the legal framework. The stakes are high: a clear regulatory path could foster innovation and attract investment, while inaction risks stifling growth or driving businesses overseas. The industry’s push comes amid broader efforts to shape policy, including the recent passage of a stablecoin bill signed by President Donald Trump in July. **Bipartisan Hope Amid Stalemate** Despite the shutdown’s impact on legislative momentum, the meeting reflected a rare moment of collaboration. Both parties acknowledged the need for a balanced approach, though disagreements over the bill’s specifics and timelines persist. As the crypto sector continues to evolve, the outcome of this legislative effort will likely shape its future in the U.S. With industry leaders urging lawmakers to act, the pressure is on to resolve the stalemate and provide the clarity needed to unlock the potential of digital assets. As Nazarov noted, “The time to address this is now—before the industry outpaces the regulators.”

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 23 Oct 25
 23 Oct 25
 23 Oct 25