News Summary

• Crypto market structure regulation has hit the fan amid Congress fall-out.
• This followed a push by the Senate Democrats to regulate decentralized finance (DeFi) Republicans, in response, withdrew from engagements, further putting the year-end deadline for passage of the bill into limbo.
• Now, crypto executives will meet with the pro-crypto Senate Democrats on the 22nd of October, likely to resolve the stalemate.
• A harmonized version, if achieved, should pass a Senate floor vote.
• After that, it will go back to the House before hitting the president’s desk to be signed into law.