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According to reporter Eleanor Terrett, a Democratic staffer stated that the atmosphere of the relevant meeting was "positive," and described it as "the most productive Democratic meeting so far." Chuck Schumer also attended the meeting, emphasizing the importance of industry participation and calling for the momentum of legislative progress to be maintained and for the bill to be passed as soon as possible.Although there are still clear demands regarding certain provisions within the Democratic Party, attendees generally believe that this legislative effort, which was once considered "on the verge of being shelved" a few weeks ago, is currently "far from over," and there is still potential for progress.

Crypto reporter Eleanor Terrett revealed that two insiders disclosed that Senate Democrats plan to hold another closed-door meeting tomorrow to discuss the "Cryptocurrency Market Structure Act" (the CLARITY Act). This will be the first meeting held by Democratic members since the Senate Banking Committee postponed the bill's consideration last month.

According to market news, the U.S. Senate Agriculture Committee has officially advanced the cryptocurrency market structure bill with a partisan vote of 12-11. This marks the first progress for the bill at the Senate committee level, indicating its entry into a new phase. However, due to the vote being entirely along party lines and lacking Democratic support, the bill still faces significant obstacles for future passage in the full Senate.Committee Chairman and Republican John Boozman stated that significant progress has been made after months of negotiations, and it is now time to move the process forward. However, Democratic chief negotiator Corey Booker criticized the Republicans for withdrawing from negotiations and accused President Trump and his family of profiting from the crypto industry while attempting to push a regulatory framework lacking ethical constraints. Democrats on the committee unanimously oppose the current version but have expressed a willingness to continue negotiations to reach a bipartisan consensus.The bill also needs to pass through the Senate Banking Committee, where its version has progressed slowly due to more controversial provisions involving stablecoin earnings. The White House plans to convene another meeting next week to coordinate positions among the cryptocurrency industry, banking sector, bipartisan lawmakers, and the government. If the bill ultimately passes in the Senate, it will be reconciled with the version that has already passed the House with a high vote and then submitted to the President for signing into law. Analysts point out that as the midterm elections approach, the legislative window is narrowing.

After setbacks in negotiations over cryptocurrency market legislation in the Senate Agriculture Committee, a Democratic senator's aide stated that the Democratic side is still willing to return to the negotiating table to push for a bipartisan compromise.The aide revealed that at the beginning of the new year, Democratic members were "caught off guard" during the negotiations, as the Republican side drafted a new version of the bill without sufficient consultation and originally planned to move directly into the markup process in mid-January. In response, the Democratic side hopes to re-engage with the committee chair, Republican Senator John Boozman's team, before a vote this week to strive for a bipartisan consensus.The Senate Agriculture Committee was originally scheduled to hold a markup and voting session on cryptocurrency legislation this Tuesday, but it has been postponed to Thursday due to severe weather in Washington. Meanwhile, some Democratic lawmakers are actively pushing to restart negotiations to reach a bipartisan-approved text before the hearing.The cryptocurrency market structure bill aims to establish a federal regulatory framework for digital assets, including clarifying the regulatory division between the SEC and CFTC, as well as related disclosure requirements. Analysts point out that, given that both the Senate Banking Committee and the Agriculture Committee need to advance their respective versions of the bill, bipartisan cooperation remains a key prerequisite for the smooth progress of the legislation.

According to reports, after negotiations on cryptocurrency market legislation hit a snag in the Senate Agriculture Committee, a Democratic senator's aide stated that the Democratic side is still willing to return to the negotiating table to push for a bipartisan compromise.The aide revealed that at the beginning of the new year, Democratic members were "caught off guard" during the negotiations, as the Republican side drafted a new version of the bill without sufficient consultation and originally planned to move directly into the review process this week. In response, the Democratic side hopes to re-engage with the committee chair, Republican Senator John Boozman's team, before the vote this week to seek a bipartisan consensus.The Senate Agriculture Committee was originally scheduled to hold a markup and voting session on cryptocurrency legislation this Tuesday, but it has been postponed to Thursday due to severe weather in Washington. Meanwhile, some Democratic lawmakers are actively pushing to restart negotiations to reach a bipartisan-approved text before the hearing.The cryptocurrency market structure bill aims to establish a federal-level regulatory framework for digital assets, including clarifying the regulatory division of responsibilities between the SEC and CFTC, as well as related disclosure requirements. Analysts point out that, given that both the Senate Banking Committee and the Agriculture Committee need to advance their respective versions of the bill, bipartisan cooperation remains a key prerequisite for the smooth progress of the legislation.

According to crypto journalist Eleanor Terrett's post on the X platform, the U.S. Senate Agriculture Committee plans to reconsider the crypto market structure bill this Thursday at 10:30 AM local time.

The chairman of the U.S. Senate Agriculture Committee, John Boozman, officially unveiled the committee's version of the cryptocurrency market structure legislation on Thursday. Although the bill has made some progress on decentralized finance (DeFi) related issues, Boozman pointed out that there are still differences between the two parties on "fundamental policy issues," and formal legislation is still some distance away.Sources indicate that the Democratic opposition to the bill stems more from political differences, including concerns about potential conflicts of interest involving Trump and his family's involvement in cryptocurrency projects, as well as worries about insufficient consumer protection. According to legislative procedures, the bill requires bipartisan support to pass in the Senate, needing at least 60 votes, which means that in addition to full support from Republican senators, it must also secure at least 7 Democratic senators.Both the Senate Agriculture Committee and the Banking Committee need to hold markups and votes on their respective versions, with the Agriculture Committee's markup expected to take place next week. However, progress in the Senate Banking Committee has stalled. Previously, the markup was postponed due to Coinbase withdrawing its support, with contentious issues including tokenized stocks, the regulatory division of DeFi, the boundaries of SEC and CFTC responsibilities, and stablecoin incentive mechanisms. Bloomberg reported that the Banking Committee may delay the legislative process by several weeks to prioritize housing and affordability issues.

According to the announcement from the Senate Agriculture Committee, Chairman John Boozman has released an updated version of the cryptocurrency market structure legislation, which aims to grant the Commodity Futures Trading Commission (CFTC) new authority to regulate digital commodities.The draft has been revised based on the original bipartisan proposal, incorporating feedback from various parties. Although a final consensus with the Democrats could not be reached, Boozman emphasized that the legislative work will continue and looks forward to the formal review meeting scheduled for next Tuesday at 3 PM Eastern Time.

According to Crypto in America, the U.S. Senate Agriculture Committee is expected to release the latest text of its cryptocurrency market structure bill before the end of the workday, in preparation for the committee's review meeting next Tuesday.The release of this text will reveal key consensus points reached by both parties after two additional weeks of negotiations. The main points of contention in the bill include whether meme coins should be included in the definition of "digital commodities," overall listing standards, the classification of different tokens, the regulatory funding of the Commodity Futures Trading Commission, and ethical clauses. If the Agriculture Committee can reach a strong bipartisan agreement, it may pave the way for similar legislative processes in the Senate Banking Committee.On the other hand, the Banking Committee's review has not yet been rescheduled after being postponed last week. Currently, the pressure is mainly on Coinbase, whose sudden withdrawal of support for the bill led to the suspension of the review. Now, consensus must be reached with the banking sector on stablecoin revenue provisions to bring all parties back to the negotiating table.The Executive Director of the White House Crypto Council hinted on social media that delaying legislation could invite harsher regulations from a future government that may be less friendly to cryptocurrencies.

Galaxy Digital's research director Alex Thorn stated that the U.S. Senate Banking Committee's originally scheduled hearing on the cryptocurrency market structure bill has been postponed, highlighting the deep divisions between Congress and the industry on several key issues, particularly focusing on stablecoin yield mechanisms and DeFi-related provisions. This delay occurred just hours after Coinbase CEO Brian Armstrong withdrew his support for the bill. Armstrong publicly opposed the bill's references to tokenized securities, DeFi restrictions, and stablecoin yields. Senate Banking Committee Chairman Tim Scott subsequently announced the postponement of the hearing, but no new timeline has been provided. With the Senate set to recess next week, the earliest possible restart could be between January 26 and 30.Alex Thorn pointed out that within just 48 hours, the bill draft was released late at night, over 100 amendments were submitted, and stakeholders continued to discover new points of contention at the last minute, significantly increasing the difficulty of political coordination. On the market side, following the announcement of the delay, cryptocurrency assets generally declined, with Bitcoin and Ethereum dropping about 2% on the day; related U.S. stocks also faced pressure, with Coinbase down 6.5%, Robinhood down 7.8%, and Circle down 9.7%. In his analysis, Thorn believes that although there is a broad consensus on "market structure" itself, non-core but highly sensitive issues surrounding stablecoin yields, DeFi compliance, and granting the SEC regulatory tools in the area of tokenized securities have created an insurmountable political divide. "The apparent gap in disagreements is not large, but the substantive chasm is deep."

According to Coindesk, sources have revealed that Senate Democrats have returned to the negotiating table to discuss the best approach for the cryptocurrency market structure bill. They held a conference call with representatives from the cryptocurrency industry, where lawmakers engaged in in-depth discussions about the next steps.This week, the Senate's plan for a first vote on the bill was suddenly postponed, after which Democrats attempted to show that they are still prepared to advance the legislation. The draft bill released this week has sparked significant criticism, and U.S. cryptocurrency exchange Coinbase also announced that the company cannot support this version.

Galaxy Research Director Alex Thorn posted on the X platform that, although U.S. Senate Banking Committee Chairman Tim Scott has not announced a new hearing date, the Banking Committee may reconvene for a revised hearing as early as the week of January 26 to 30, since the Senate will be in recess next week. The Senate Agriculture Committee, which handles CFTC-related matters, has also postponed its revised hearing to January 27.Previously, Tim Scott announced the postponement of the hearing on the cryptocurrency market structure bill. It is reported that the issue of stablecoin yields is a key sticking point in the negotiations. Banking lobby groups are actively pushing to restrict stablecoin rewards, fearing that interest-bearing stablecoins could siphon off bank deposits and undermine the stability of the banking system. Compromise proposals put forward to gain support from lawmakers were ultimately deemed unacceptable by the stablecoin industry. Some believe this issue is vital to their survival, while other unresolved issues include restrictions on DeFi and illegal activities, as well as limitations on tokenized securities innovation.

According to Eleanor Terrett, the Senate Banking Committee has announced the cancellation of the market structure adjustment meeting originally scheduled for tomorrow, due to a dispute that occurred today with Coinbase. A new meeting date has not yet been determined.

Cryptocurrency journalist Eleanor Terrett posted on X platform that several leading companies and industry associations in the cryptocurrency sector have expressed support for the Senate Republicans' (BankingGOP) market structure bill this evening, following Coinbase's public opposition. Currently, a16z, Circle, Kraken, Digital Chamber, Ripple, and Coin Center have all expressed their support.

Coinbase CEO Brian Armstrong stated that Coinbase will not support the current version of the bill before the Senate Banking Committee revises and votes on comprehensive cryptocurrency legislation. Armstrong posted on the X platform that, while he appreciates the senators' efforts to promote bipartisan consensus, the draft is "worse than the current regulatory status" and that "it’s better to have no bill than a bad bill."The bill aims to clarify the jurisdictional boundaries of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in the regulation of digital assets, define when digital assets are considered securities or commodities, and introduce new disclosure requirements. The Senate Banking Committee plans to hold a hearing and vote on the bill on Thursday morning.Armstrong pointed out that the bill has significant issues regarding DeFi, stablecoin yields, and other areas, with some provisions potentially granting the government "unlimited access to personal financial records," eroding user privacy, while related amendments could "stifle stablecoin reward mechanisms." He also criticized the bill for weakening the CFTC's authority, making it subordinate to the SEC in regulatory matters, which is detrimental to industry innovation.Insiders indicated that Coinbase's public opposition is "symbolic" and could affect the final fate of the bill. The issue of stablecoin yields has become a focal point of controversy, with banking groups concerned that the related mechanisms could siphon off deposits and impact community banks, while the crypto industry accuses banks of trying to limit competition.Despite this, some industry organizations continue to support advancing the legislation. Digital Chamber CEO Cody Carbone stated that they will continue to push for the bill to become law by 2026; Ripple CEO Brad Garlinghouse also expressed optimism about resolving differences through amendments.

The U.S. Senate Banking Committee published an article interpreting and clarifying seven major misconceptions about the CLARITY Act, which mainly include:It does not deviate from existing securities laws but is based on established securities law principles, clearly defining which digital assets are securities and which are commodities.The act is essentially an investor protection measure, aimed at combating fraud, manipulation, and abuse by establishing clear rules, with the goal of preventing a recurrence of risks similar to those seen with FTX.By clearly delineating the regulatory authority of the SEC and CFTC and establishing a joint advisory committee to coordinate rules, it addresses regulatory gaps while introducing targeted anti-avoidance provisions to reduce arbitrage opportunities.It requires key intermediaries to fulfill anti-money laundering and anti-terrorist financing obligations and strengthens compliance with sanctions and enforcement authority for the Treasury.It does not allow DeFi to become a conduit for illegal funds, emphasizing "precise strikes against illegal activities," requiring centralized intermediaries interacting with DeFi protocols to implement risk management standards, while also establishing specific rules for intermediaries that are not truly decentralized to protect the code and innovation itself.It clearly protects the self-custody rights of software developers and users, not considering developers who do not control user funds and only publish or maintain code as financial intermediaries, while retaining the ability for regulatory agencies to intervene in response to real risks.The core goal is to strengthen national security, protect investors, and promote compliant innovation under clear rules, rather than being "tailored" for specific industries.

The U.S. Senate Agriculture Committee has announced that its previously scheduled hearing on the cryptocurrency market structure bill has been postponed, and the bill text will be released on January 21, followed by a markup hearing. The committee stated that this adjustment aims to ensure transparency in the legislative process and provide members with more time for review.Senate Agriculture Committee Chairman John Boozman stated that the bill will provide clarity and certainty for the cryptocurrency market while protecting consumers and supporting American innovation. Meanwhile, the Senate Banking Committee will hold a separate markup hearing this week on its version of the cryptocurrency market structure bill. The current version from the Agriculture Committee has not yet been released in formal text, with related contentious points including ethical provisions and the composition of regulatory agency members.

According to crypto journalist Eleanor Terrett, U.S. Senate Agriculture Committee Chairman John Boozman stated that the committee will postpone the revision phase of its cryptocurrency market structure bill to the last week, instead of holding it as originally planned on Thursday alongside the Senate Banking Committee.Boozman mentioned that more time is needed to maintain bipartisan support.

According to former Fox reporter Eleanor Terrett, the U.S. Senate Banking Committee will hold its first formal amendment review of the "Digital Asset Market Structure Act" (H.R. 3633) on January 15, after the House passed the bill in July 2025.The Senate version of the text will be submitted to lawmakers on Monday or Tuesday, with key focuses including ethical standards for officials holding digital assets, stablecoin yield attribution, and DeFi regulation. The bill may advance simultaneously with the Agriculture Committee version. If passed, it will lay the foundational framework for cryptocurrency regulation in the United States.

Sources reveal that bipartisan senators are gradually accepting the banking industry's lobbying group's request to adjust the stablecoin yield rules in the GENIUS Act.The related adjustment paths include: adopting the proposal put forward by Senator Alsobrooks, which limits yields to the transaction stage (more supported by Democrats); or requiring that only institutions holding a bank charter from the Office of the Comptroller of the Currency (OCC) can offer stablecoin yields, the latter being considered more friendly to certain parts of the crypto industry, but controversial in the DeFi space. Additionally, it is reported that Scott is expected to submit the House version of the CLARITY Act as a placeholder text tonight to initiate the review process next week, with the formal text needing to be submitted by midnight on Monday at the latest. Furthermore, industry insiders involved in communications with Senate staff have indicated that the previous notion of "needing to pray for the bill to pass" was more of a light-hearted joke rather than a pessimistic judgment on the legislative prospects, and the final direction may gradually become clearer in the coming days.