Crypto CEOs Clash with Senate Democrats as Market Structure Bill Stalls

Democratic senators delivered sharp rebukes to cryptocurrency executives during Thursday's Capitol Hill meetings, with negotiations over a pivotal market-structure bill reaching an impasse. The heated exchange saw lawmakers accuse industry leaders of acting as "Republicans' lapdog," signaling deepening partisan divisions.

Despite initial hopes for progress, the discussions yielded no concrete commitments. Industry representatives left with growing concerns that legislative action may be delayed until 2026, with Politico reporting the need for a "minor miracle" to pass legislation this year. Senate Banking Chair Tim Scott's push for pre-Thanksgiving committee approval met firm resistance from Democrats demanding genuine bipartisan collaboration.

The tension escalated as senators criticized the crypto industry's response to leaked DeFi regulation proposals. With both sides digging in their heels, the path forward appears increasingly uncertain for legislation that could shape the future of digital asset markets.