US Senator Moreno describes crypto bill negotiations as frustrating, legislative process intensifies at year-end

According to The Block, Republican Senator Moreno from Ohio stated that negotiations surrounding the crypto market structure bill are 'quite frustrating,' with Democrats and Republicans planning to meet on Tuesday.

During a blockchain association policy summit held in Washington D.C. on Monday, Moreno discussed the progress of discussions on what should be included in this broader bill. Moreno said, 'I'm not willing to rush out a bad bill just to say we passed something. No deal is better than a bad deal.' The versions of the market structure bill from the House and Senate still need to be reconciled. The House passed its version of the 'Clarity Act' in July. While the Senate's proposal is not significantly different, passing a bill in the Senate is usually more challenging than in the House.

Previously, Senate Banking Committee Chairman and Republican Tim Scott stated that the committee will hold a 'practical' bill revision hearing on December 17 or 18. However, on Monday, Senator and Democrat Mark Warner revealed that it would be difficult to complete the bill revision hearing before the holidays, as they are still waiting for the White House to address issues regarding statutory numbers and ethical standards.

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