After the Senate Banking Committee gave the GOP’s crypto bill a thumbs-up, Democratic senators suddenly realized they can’t just sit back and sip lattes while Republicans draft the next big crypto rules. Because of course, crypto regulation is the most important thing since sliced bread (and Bitcoin). Especially with Trump’s “crypto-friendly” vibe still echoing in the halls of Congress. 🧨
Crypto Bill: GOP’s Brainchild or a Political Party Favor?
Let’s get this straight: the GOP’s crypto bill is being led by Tim Scott (R-S.C.), Cynthia Lummis (R-Wyo.), and their squad. The “Responsible Financial Innovation Act of 2025” dropped a draft in September that made everyone go “Hmm, okay…” One idea? A joint committee with SEC, CFTC, and 14 random industry folks. Because nothing says “responsibility” like letting 14 strangers into the room. 🤷♀️
But wait! Elizabeth Warren (D-MA) swooped in with a fiery rant on September 9, accusing Republicans of playing “crypto cops” without letting Democrats peek at the paperwork. “Transparency? What’s that?” she allegedly said. Democrats, of course, responded with their own framework, because bipartisanship is clearly the new black. 💼
Democrat Senators: “We Want to Play Too!” 🧐
On September 19, 12 Democratic senators (names too long to spell out here-just trust us, they’re important) released a statement basically saying, “Hey, we’re not your backup dancers. We want to be co-writers, not just clap-alongers.” Their framework? Seven pillars of sanity, including “clarifying jurisdiction” (because nothing’s clearer than crypto) and “closing gaps in non-security digital assets.” Because nothing says “fun” like regulating things that don’t even exist yet. 🤯
Last week, we released a framework on market structure legislation, highlighting our desire to work on this issue. As we stated then, digital assets are a $4 trillion global market that will require a considered and bipartisan approach to regulation.
We hope our Republican colleagues will agree to a bipartisan authorship process, as is the norm for legislation of this scale. Given our shared interest in moving forward quickly on this issue, we hope they will agree to reasonable requests to allow for true collaboration.
Meanwhile, the crypto market cap hit $4.03 trillion after a 0.34% gain. Because nothing says “stability” like a market that fluctuates like a toddler’s mood. 🚀
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2025-09-21 12:59