Wall Street and Crypto Leaders Push Crypto Bill in Private Talks
Wall Street, Crypto Leaders Make “Progress” on Crypto Bill in Private Meeting: Sources
Representatives from Wall Street and the crypto industry met privately on Thursday to work through disputes over the Senate’s crypto market structure bill, according to sources with direct knowledge of the discussions.
The meeting, which had not been previously reported, included participants from the Securities Industry and Financial Markets Association (SIFMA) and a handful of crypto industry representatives. SIFMA is a major Wall Street trade group that has been protesting key elements of the Senate legislation.
Sources described the session as “productive,” and said it offered signs of progress on one of the bill’s most difficult areas: how the legislation should address decentralized finance, or DeFi.
The discussions underscore the high stakes around the market structure effort, which aims to set clearer rules for how crypto markets are overseen in the U.S. The bill has attracted intense attention because it could shape how traditional financial institutions and crypto-native companies operate—and compete—under a single regulatory framework.
While details of the meeting’s outcomes were not disclosed, the fact that critics of the bill and industry advocates convened privately to resolve differences suggests both sides are actively seeking workable compromises, particularly on DeFi-related questions that have proven contentious in policy debates.
