The Breakdown Democrats Blow Up at Crypto Executives Over Market Structure Bill
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Oct 24, 2025 Tensions boiled over as Senate Democrats clashed with crypto executives over a leaked market structure bill perceived as a threat to DeFi. Accusations flew, revealing deepening trust issues between the parties. The podcast also discusses GOP efforts to modernize financial crime laws and banking opposition to stablecoin interest payments. In a surprising turn, Standard Chartered predicts a short-term drop for Bitcoin, raising eyebrows in the crypto community.
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Meeting Erupted Over Leaked Draft
- A closed-door meeting between Senate Democrats and crypto executives devolved after a leaked Democrat market-structure framework angered senators.
- Senator Ruben Gallego openly told executives, "I'm really effing pissed," showing trust between parties had broken.
DeFi AML Language Broke Negotiations
- Democrats' anti-money-laundering language targeting DeFi looked like a de facto ban and provoked industry backlash.
- That backlash collapsed talks as senators feared the leak would derail progress and trust evaporated.
Get Involved Early In Drafting
- Participate earlier in drafting to avoid last-minute surprises that provoke political backlash.
- Engage constructively with senators to keep negotiations collaborative and prevent future leaks from stalling the bill.