According to Odaily Odaily, White House digital asset advisor Patrick Witt stated that previously considered "intractable" disagreements over crypto legislation have significantly decreased, and the prospects for passing related legislation are improving.
With Congress reconvening, a key Senate committee is expected to vote on a comprehensive crypto bill, paving the way for further legislation. This bill aims to clarify the regulatory roles of the SEC and CFTC and establish a unified regulatory framework for exchanges and market participants.
The current controversy remains focused on stablecoin incentive mechanisms. While the passed stablecoin legislation prohibits issuers from directly paying interest to users, there is still disagreement on whether to allow third-party platforms to provide rewards.
Overall, policy-making is shifting from "high uncertainty" to "gradual convergence," and the regulatory framework for the crypto industry is expected to enter a stage of substantial progress.
