Crypto Executives and Senate Democrats Discuss Stalled Market Legislation

Senate Democrats Host Crypto Roundtable

On October 22, 2025, Senate Democrats held a roundtable with key crypto executives. The session, led by Senator Kirsten Gillibrand, included participants such as Coinbase CEO Brian Armstrong and Chainlink CEO Sergey Nazarov. Discussions focused on stalled market structure legislation.

DeFi Proposal Stalls Bipartisan Negotiations

Bipartisan talks collapsed following the leak of a DeFi proposal addressing illicit finance and arbitrage risks.
The proposal faced criticism from Republicans and industry leaders for being poorly structured and anti-innovation.
Senate Banking Chair Tim Scott paused progress pending a markup agreement.

Legislative Focus: SEC-CFTC Jurisdiction

The bill aims to clarify jurisdiction between the SEC and CFTC.
Republicans propose "ancillary assets" for non-security tokens, while Democrats prepare an alternative version.
The House passed the CLARITY Act in July 2025, but Senate action is delayed until post-2026 midterms.

CFTC Engages Industry Experts

In October 2025, the CFTC appointed crypto experts like Uniswap's Katherine Minarik to advisory panels.
This move aims to integrate sector input into digital asset regulations.