## Crypto Regulation Showdown: Negotiations Stall, Senator Says "These Weeks Have Been Too Exhausting"

The comprehensive regulatory framework negotiations for the crypto industry in the US Congress have entered a "high-pressure mode." Ohio Republican Senator Bernie Moreno recently admitted at the Washington D.C. Blockchain Association Policy Summit that Democrats and Republicans have hit several walls in advancing the Crypto Market Structure Act, with both sides pushing hard for their respective positions.

**Partisan Disputes: Regulatory Responsibilities and Authority Become a Challenge**

The core issue facing lawmakers now is: how to delineate regulatory authority between the SEC and CFTC? This more comprehensive Crypto Market Structure Act not only involves power distribution but also concerns consumer protection, a key regulatory focus. Although US legislators successfully passed the stablecoin regulation bill this summer, resolving differences over a broader market structure framework is far more complex than expected.

The House and Senate have each proposed different versions of the Market Structure Act, and coordination between the two remains necessary, further increasing the difficulty of negotiations. Moreno revealed that the negotiation process over the past few weeks has been "quite frustrating" — both sides are fighting for the most favorable terms, but progress has been slow.

**Senator's Candid Attitude: Better No Deal Than a Bad One**

In response to external expectations for a quick agreement, Moreno's attitude was unexpectedly "calm." He candidly stated, "I don't want to push through a bad bill just to show we got something done," emphasizing that "sometimes it's better not to have an agreement than to have a bad one." This reflects lawmakers' dedication to the quality of the bill and hints at fundamental disagreements in current negotiations.

**Next Step: Can Tuesday’s Meeting Break the Deadlock?**

Moreno plans to meet with Democrats on Tuesday morning to continue discussions on the bill. However, based on his comment, "We'll see what they think, but the past few weeks have indeed been quite frustrating," the senator's outlook for this meeting is not very optimistic.

This series of delays in negotiations highlights the complexity of designing a crypto regulatory framework. Whether a bill that protects consumers and clarifies market order can be pushed through before the end of the year remains uncertain. For the crypto community, the final outcome of this regulatory showdown could directly influence the future landscape of the US crypto market.