U.S. Congress Bipartisan Talks on Cryptocurrency Legislation Focus on DeFi Regulation

ChainCatcher reported that Capitol Hill in the United States recently held a "Crypto Blitz" meeting, where both parties held roundtable discussions with industry leaders.

David Sacks, the White House Crypto and AI Czar, stated that passing market structure legislation is the government's top priority this year. At the Democratic meeting, senators acknowledged that cryptocurrency provides opportunities for voters who are treated unfairly under the traditional banking system, but Arizona Senator Gallego warned industry leaders not to "become accomplices of the Republican Party" due to the DeFi proposal leak incident. The Republican meeting focused on how to define and regulate DeFi, suggesting that regulation should focus on intermediaries rather than protocols, and recommended that both parties and industry representatives review the bill line by line together. Senator Kennedy compared the legislative process to "the ups and downs of a heroin addict." Although both parties expressed a willingness to cooperate, the next specific steps remain unclear.