U.S. Senate Democrats are signaling growing readiness to advance a comprehensive crypto market structure bill after key meetings with industry leaders this week. The discussions, which included several crypto CEOs and lawmakers from both parties, suggest the long-debated digital asset legislation may finally gain bipartisan traction.
Chainlink co-founder and CEO Sergey Nazarov said over 10 Democratic senators participated in Wednesday’s meeting, emphasizing their “commitment to investing time and effort” in shaping the bill. The meeting, led by Senator Kirsten Gillibrand of New York, focused on addressing illicit finance risks and building common ground with Republican lawmakers backing the Digital Asset Market Clarity Act in the House.
Tensions have been rising as leaked Democratic DeFi proposals sparked concern among crypto advocates, but Nazarov believes the friction is “transitory” and will soon be resolved. Kristin Smith, president of the Solana Policy Institute, described the meeting as a “reset” in the conversation, noting that while progress is visible, lawmakers still need to deepen their understanding of the crypto landscape to finalize effective legislation.
After meeting with Republicans, Senator Tim Scott’s office urged Democrats to “return to the negotiating table” and engage in serious bipartisan talks. Industry leaders like Coinbase CEO Brian Armstrong, who attended both meetings, expressed optimism, noting that the crypto community is “keeping the pressure on in DC” to get the bill to President Donald Trump’s desk.
Despite optimism, significant steps remain. Both the Senate Banking and Agriculture Committees must advance the proposal before it returns to the House for a final vote. Still, crypto leaders view this as a pivotal moment. As Nazarov stated, passing the bill would help integrate digital assets into the U.S. financial system, while Smith added that ongoing regulatory progress at the SEC and CFTC ensures that “real clarity” is already emerging in the meantime.
