U.S. Senator Moreno described the negotiations on the cryptocurrency bill as frustrating, with the legislative process intensifying as the year comes to a close

According to The Block, Ohio Republican Senator Moreno stated that negotiations surrounding the cryptocurrency market structure bill have been "quite frustrating," with Democrats and Republicans planning to meet on Tuesday.

On Monday, at the Blockchain Association policy summit held in Washington, D.C., Moreno elaborated on the progress of discussions regarding what this broader bill should include. Moreno said, "I am not willing to rush out a bad bill just to show that we passed something. Not doing a deal is better than making a bad deal." The market structure bill versions from both the House and Senate still need to be reconciled. The House passed its version of the Clarity Act in July. Although the Senate's proposal is not significantly different, it is generally more difficult to pass a bill in the Senate than in the House.

Previously, Senate Banking Committee Chairman and Republican Tim Scott indicated that the committee would hold a bill revision hearing on December 17 or 18, which is "feasible." However, on Monday, Senator and Democrat Mark Warner revealed that completing the bill revision hearing before the holidays is challenging, as they are still waiting for the White House to weigh in on quorum and ethical issues.