Banking with Interest As Crypto Talks Heat Up Again, Can Congress Cut a Deal?
Nov 5, 2025
Brendan Pedersen, a financial services reporter at Punchbowl News, dives into the intricacies of crypto legislation and its potential impact. He discusses the renewed Senate talks on a crypto market structure bill after earlier setbacks. Brendan examines the conflicting approaches of the House and Senate and the implications of recent regulatory shifts. He also shares insights on how crypto may align with political parties, the effects of a government shutdown on negotiations, and the challenges in defining stablecoin interest. A fascinating look at crypto's evolving landscape!
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Regulatory Overhaul Could Reset Securities Law
- Market structure bills aim to reassign SEC and CFTC roles and create clearer rules for crypto spot markets.
- Critics fear new categories like "ancillary assets" could weaken disclosures and reset 90 years of securities case law.
House Vs. Senate: Two Competing Frameworks
- The House Clarity Act defines digital securities and commodities and creates certification for compliant crypto firms.
- The Senate draft adds an "ancillary asset" self-certification that could exempt tokens from securities law.
Negotiations Collapsed Then Quietly Restarted
- Talks resumed after an October collapse triggered by a leaked Democratic DeFi draft Republicans disliked.
- Staff have begun speaking again but parties haven't yet exchanged formal paper, leaving details unresolved.