U.S. Senate stalls crypto market legislation; crypto industry executives to meet with Democrats this week to push for progress

Jinse Finance reported that progress on the most important market structure legislation for the US crypto industry has been slow and may be delayed until next year. The CEO of a certain exchange, Brian Armstrong, Chainlink co-founder Sergey Nazarov, Uniswap's Hayden Adams, and Solana Policy Institute President Kristin Smith, among others, will meet with several Democratic senators this week to promote negotiations on controversial provisions and maintain industry communication. Executives from the exchange, Galaxy Digital, a16z Crypto, and Circle will also participate. Both the House and Senate had previously been optimistic about completing the legislation, but Senate negotiations have been slow due to disputes and budget issues, and the industry generally expects the bill may not be completed until next year.