US senator says crypto regulation talks have stalled in Congress

Pro-cryptocurrency U.S. Senator Bernie Moreno has stated that negotiations on a comprehensive crypto regulation bill are facing significant hurdles with no clear progress. According to The Block, while the U.S. passed the GENIUS Act for stablecoin regulation last summer, broader discussions have stalled. The key sticking points include defining the jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as provisions for consumer protection. Speaking at a Blockchain Association policy summit in Washington, D.C., Moreno emphasized that he would rather have no agreement than a bad one, adding that he is unwilling to include problematic provisions simply to pass a bill. Meanwhile, Republicans and Democrats are scheduled to meet on Dec. 9 to continue discussions on the matter.