coindesk.com
Representatives of the crypto industry will reopen talks with U.S. Senate Democrats on Friday, with a call scheduled less than two days after the 11th-hour postponement of a committee hearing on the market structure legislation, according to people familiar with the plan.
Thursday marked a step-back day after Wednesday's late-night cancellation of the Senate Banking Committee's planned markup of the bill, which U.S. crypto exchange Coinbase walked away from, pulling much of the oxygen out of the negotiation. As it stood, some Democrats (and also a few Republicans) were said to be resistant to the draft bill, making the committee work uncertain even without the high-profile withdrawal of support from Coinbase.
Now, Democrats from both the banking panel and the Senate Agriculture Committee are said to be involved in the Friday call, which will also include some of the organizations that advocate for crypto policy in Washington.
The participants will have much to discuss. Likely top of the list will be the compromise that Democrats, Republicans, bank lobbyists and crypto representatives were trying to hash out over the allowance of stablecoin rewards programs. While the Senate Banking Committee postponed its markup — a hearing meant to amend, discuss and vote on whether to advance legislation beyond a committee — the agriculture panel is so far still on-deck to hold one January 27.
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