US crypto bill faces delay to January amid unresolved issues

Negotiations in the U.S. Senate over a crypto market structure bill are likely to be postponed until January, as key disagreements remain unresolved ahead of the year-end recess, CoinDesk reported. A draft of the bill is reportedly circulating privately between industry representatives, the White House, Republicans, and Democrats. Major sticking points include conflict of interest and ethics rules for senior government officials, whether to permit interest-bearing stablecoins, and the scope of the SEC's jurisdiction over tokens and DeFi. The White House has reportedly rejected a Democratic proposal for stricter ethics rules, while the industry has drawn a red line on regulations it believes would infringe on DeFi's freedom. Cody Carbone, CEO of the Digital Chamber, stated that both parties are actively negotiating and coordinating on the bill's text, adding that he expects substantial progress to be made starting in early January.