According to @Matt_Hougan, US lawmakers are negotiating a crypto market-structure bill, with Democrats indicating they have accepted significant portions of @BankingGOP’s RFIA text while rejecting parts of the GOP’s December 4 offer (source: Matt Hougan on X, Dec 11, 2025). Citing a three-page Democratic counteroffer, journalist Eleanor Terrett reports the asks focus on token classification, illicit finance, ethics, and the GENIUS Act’s stablecoin-yield restrictions (source: Eleanor Terrett on X, Dec 11, 2025). @Matt_Hougan highlights that some policymakers justify yield limits as protecting banks, which would prevent ordinary users from earning interest via stablecoin products (source: Matt Hougan on X, Dec 11, 2025). These negotiation points are directly trading-relevant because they target yield-bearing stablecoin products and token-classification standards that shape exchange compliance and market structure in the US (source: Eleanor Terrett on X, Dec 11, 2025).

According to @EleanorTerrett, Democrats negotiating the U.S. crypto market-structure bill say they have accepted significant portions of @BankingGOP’s RFIA text, indicating progress toward a bipartisan framework, source: @EleanorTerrett on X, Dec 10, 2025. However, the GOP’s December 4 offer still misses key principles Democrats are seeking, highlighting unresolved policy gaps, source: @EleanorTerrett on X, Dec 10, 2025. Democrats have issued a three-page counteroffer, a copy of which was sent to the reporter, confirming active negotiations, source: @EleanorTerrett on X, Dec 10, 2025. No timeline or vote schedule was mentioned in the post, and specific disputed principles were not detailed, source: @EleanorTerrett on X, Dec 10, 2025. For trading relevance, the update centers on the crypto market-structure bill and RFIA text, making it directly tied to U.S. regulatory risk that market participants track for assets such as BTC and ETH, source: @EleanorTerrett on X, Dec 10, 2025.

According to Jake Chervinsky, most market participants expect the Senate to begin its crypto market structure reform from a different legislative foundation—specifically, the Responsible Financial Innovation Act (RFIA) or the Digital Commodities Act (DCA), rather than the recently discussed FIT21 bill (source: Jake Chervinsky on Twitter, May 27, 2025). Chervinsky notes that reconciling new versions of these crypto regulation bills will be highly challenging, and completion before the end of summer is improbable. For crypto traders, this delay in regulatory clarity could prolong market uncertainty, potentially increasing volatility and affecting sentiment across major digital assets.