SCOOP ON CRYPTO MARKET STRUCTURE BILL 🚨 bipartisan meeting today covered key asks from democrats and republicans to advance bill we reviewed a key document emanating from the meeting key DeFi asks from Dems: - front-end sanctions compliance - increased "special measures"

items that still need discussion: - handling of stablecoin yield - ethics / conflicts of interest questions - ensuring market regulators have bipartisan quorum - how to formulate BRCA / self-custody language - extent and language of software dev protections from money

republicans are pushing for senate banking committee markup next thursday (jan 15). unclear if the two sides can come together and make that bipartisan as plenty of issues are still outstanding

this is actually pretty reasonable

there's a lot in here that is extremely unclear still, tho

I hope retail doesn’t get screwed.

this is a valid hope. this negotiation is more about what is “decentralized enough” than ‘how to protect retail’ no one quite knows what the downstream retail effects will be, though we think it’s positive. we need to try and then learn from our attempts