Negotiations between the two parties in the U.S. Senate on cryptocurrency regulation have stalled

ChainCatcher news, the legislation to establish clear regulatory rules for the cryptocurrency industry has encountered obstacles in the Senate, making the path for the bill increasingly unclear.

A draft known as the "Preliminary Framework for Decentralized Finance Regulation," submitted by Senate Democrats in early October, was leaked and faced strong opposition from the cryptocurrency industry. Negotiations this month are currently at a standstill, with talks between Republicans and pro-cryptocurrency Democrats derailed. The U.S. Congress is busy dealing with the government shutdown issue, and the likelihood of the bill passing before the end of the year is in doubt.