【Block Beats】As January begins, new developments are emerging in U.S. cryptocurrency market regulation. Bipartisan lawmakers recently held a meeting and reached some consensus on advancing cryptocurrency market structure legislation, while also exposing numerous disagreements.
According to key documents formed from the meeting, Democrats’ core demands in the DeFi field include three aspects: requiring front-end platforms to comply with sanctions requirements, granting the Treasury Department expanded “special measures” authority, and establishing specialized regulatory rules for non-decentralized DeFi. In other words, they want to bring DeFi under a stricter regulatory framework.
Beyond this, Democrats have proposed several other key demands. First, adjust the classification standards for crypto assets; second, introduce investor protection clauses for crypto ATMs and consumer protection; third, add anti-circumvention provisions to prevent regulatory arbitrage. Notably, they also want to set a fundraising cap for issuers—individual projects can raise a maximum of $200 million, while requiring protocol operators to proactively file with the SEC and prove they are not securities.
There are still many issues requiring further discussion, such as how to regulate stablecoin yields, ethical standards, and conflicts of interest. Republicans are pushing the Senate Banking Committee to review the legislation on January 15. But to be frank, whether both parties can reach genuine consensus remains uncertain—there are still many unsettled issues, and bipartisan cooperation faces considerable challenges.
アメリカの二党が暗号法案を推進：DeFi規制が焦点、1月15日に上院で審議予定
【Block Beats】As January begins, new developments are emerging in U.S. cryptocurrency market regulation. Bipartisan lawmakers recently held a meeting and reached some consensus on advancing cryptocurrency market structure legislation, while also exposing numerous disagreements.
According to key documents formed from the meeting, Democrats’ core demands in the DeFi field include three aspects: requiring front-end platforms to comply with sanctions requirements, granting the Treasury Department expanded “special measures” authority, and establishing specialized regulatory rules for non-decentralized DeFi. In other words, they want to bring DeFi under a stricter regulatory framework.
Beyond this, Democrats have proposed several other key demands. First, adjust the classification standards for crypto assets; second, introduce investor protection clauses for crypto ATMs and consumer protection; third, add anti-circumvention provisions to prevent regulatory arbitrage. Notably, they also want to set a fundraising cap for issuers—individual projects can raise a maximum of $200 million, while requiring protocol operators to proactively file with the SEC and prove they are not securities.
There are still many issues requiring further discussion, such as how to regulate stablecoin yields, ethical standards, and conflicts of interest. Republicans are pushing the Senate Banking Committee to review the legislation on January 15. But to be frank, whether both parties can reach genuine consensus remains uncertain—there are still many unsettled issues, and bipartisan cooperation faces considerable challenges.