CoinDesk Podcast Network Has U.S. Crypto Market Structure Bill Hit a Wall? | CoinDesk Daily
Dec 11, 2025
Senate negotiations over a crucial crypto market structure bill face gridlock, with Democrats pushing for stricter rules amidst dwindling time. In an interesting twist, CEOs from major crypto firms like Gemini join the CFTC Innovation Council to share insights. Meanwhile, Bhutan steps into the blockchain spotlight by launching a gold-backed token on Solana, aiming to attract new on-chain investors. These developments signal both challenges and innovations within the evolving crypto landscape.
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Bill Stalled By Political And Calendar Pressures
- The U.S. Senate crypto market structure bill faces serious political and procedural obstacles as negotiations stall.
- The 2025 Senate calendar and looming January deadlines increase odds the bill won't advance this year.
Democrats Push Tougher Standards
- Democrats are demanding stricter rules on financial stability, market integrity, and ethics, complicating GOP-led talks.
- White House opposition and senior Democratic blocks make next-week markup unlikely despite GOP claims the bill is ready.
Shutdowns And Elections Threaten Progress
- A potential government shutdown and midterm election pressures in January could further delay or derail progress.
- The episode notes 2025's record shutdown as a precedent for how shutdowns harm legislative momentum.