sena

According to The Block, U.S. Senator Cynthia Lummis called for the banking industry to embrace stablecoins and digital assets during an interview, believing that this will bring new product opportunities for traditional financial institutions.She pointed out that stablecoins can significantly reduce settlement times and costs, thereby greatly enhancing the efficiency of domestic and international transactions. Providing custody and payment services for this will open up more business possibilities for banks. Lummis currently serves as the chair of the Senate Digital Assets Subcommittee.She emphasized that she does not understand why the banking industry resists digital assets, as this actually provides banks with new financial products to offer to customers. The current disagreement between banks and the cryptocurrency industry over stablecoin yield terms remains a key factor delaying the passage of the U.S. cryptocurrency market structure bill.

According to reporter Eleanor Terrett, a Democratic staffer stated that the atmosphere of the relevant meeting was "positive," and described it as "the most productive Democratic meeting so far." Chuck Schumer also attended the meeting, emphasizing the importance of industry participation and calling for the momentum of legislative progress to be maintained and for the bill to be passed as soon as possible.Although there are still clear demands regarding certain provisions within the Democratic Party, attendees generally believe that this legislative effort, which was once considered "on the verge of being shelved" a few weeks ago, is currently "far from over," and there is still potential for progress.

Some Republican lawmakers are urging the U.S. Treasury to purchase Bitcoin. Senator Cynthia Lummis has reportedly suggested to Treasury Secretary Yellen to use the U.S. gold reserves to buy Bitcoin. She proposed this idea to Yellen last year and stated that she would support actions taken within the existing executive authority.

Crypto reporter Eleanor Terrett revealed that two insiders disclosed that Senate Democrats plan to hold another closed-door meeting tomorrow to discuss the "Cryptocurrency Market Structure Act" (the CLARITY Act). This will be the first meeting held by Democratic members since the Senate Banking Committee postponed the bill's consideration last month.

According to Decrypt, U.S. Senator Chris Murphy from Connecticut has warned that a deal involving UAE investors secretly paying Trump-associated cryptocurrency firms may involve potential criminal activity. Murphy alleged that four days before Trump's inauguration, Aryam Investment, linked to UAE Sheikh Tahnoon bin Zayed, agreed to acquire 49% of Trump-associated cryptocurrency company World Liberty Financial for $500 million, with approximately $187 million flowing to entities associated with the Trump family and at least $31 million going to family-associated entities of Trump's Middle East envoy, Steve Witkoff.Subsequently, the Trump administration approved the expansion of UAE's access to advanced U.S. AI chips, which had been restricted during the Biden administration. In his Senate speech, Murphy summarized the accusation as: a secret massive transfer of funds to Trump and envoy-associated families, followed by the U.S. sharing restricted security technology with the UAE. He stated that this is corruption, constitutes elements of bribery, and is potential criminal behavior, warning that although accountability may be delayed, the consequences are inevitable, the rule of law will return, and those who trade power for money will go to jail. Previously, it was reported that a confidant of the Abu Dhabi royal family secretly invested $500 million to acquire 49% of the Trump family's WLFI company; Trump responded that he was unaware of the $500 million investment from Abu Dhabi into WLFI, and that his sons were handling it.

U.S. Senator Elizabeth Warren is calling for Congress to hold hearings on the $500 million acquisition of WLFI equity by UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan. Reports indicate that the transaction documents were signed by Eric Trump, with approximately $187 million flowing directly into entities related to the Trump family, and at least $31 million going to entities associated with Trump ally Steve Witkoff.Elizabeth Warren stated that this move is "purely a corrupt act" and urged the Trump administration to rescind its decision to sell sensitive artificial intelligence chips to the UAE. She also called for Trump administration officials, including Steve Witkoff, David Sacks, and Commerce Secretary Howard Lutnick, to testify before Congress on related issues, claiming that they jeopardize U.S. national security for the benefit of a president-associated cryptocurrency company.

According to Jinshi, U.S. Democratic Senator Warren stated that no Republican should agree to advance the nomination of Waller before President Trump halts the investigation into the Federal Reserve.

According to market news, the U.S. Senate Agriculture Committee has officially advanced the cryptocurrency market structure bill with a partisan vote of 12-11. This marks the first progress for the bill at the Senate committee level, indicating its entry into a new phase. However, due to the vote being entirely along party lines and lacking Democratic support, the bill still faces significant obstacles for future passage in the full Senate.Committee Chairman and Republican John Boozman stated that significant progress has been made after months of negotiations, and it is now time to move the process forward. However, Democratic chief negotiator Corey Booker criticized the Republicans for withdrawing from negotiations and accused President Trump and his family of profiting from the crypto industry while attempting to push a regulatory framework lacking ethical constraints. Democrats on the committee unanimously oppose the current version but have expressed a willingness to continue negotiations to reach a bipartisan consensus.The bill also needs to pass through the Senate Banking Committee, where its version has progressed slowly due to more controversial provisions involving stablecoin earnings. The White House plans to convene another meeting next week to coordinate positions among the cryptocurrency industry, banking sector, bipartisan lawmakers, and the government. If the bill ultimately passes in the Senate, it will be reconciled with the version that has already passed the House with a high vote and then submitted to the President for signing into law. Analysts point out that as the midterm elections approach, the legislative window is narrowing.

On Thursday local time, during a meeting where the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) discussed regulatory coordination in the cryptocurrency sector, Senator Amy Klobuchar warned that the CFTC's powers should not be expanded without a full commission in place. "We cannot grant the U.S. Commodity Futures Trading Commission such broad new powers with only one member."

Six U.S. Senators, including Mazie K. Hirono, Elizabeth Warren, and Richard Durbin, sent a letter to Deputy Attorney General Todd Blanche on January 28, questioning his decision to dissolve the Department of Justice (DOJ) National Cryptocurrency Enforcement Team (NCET) in April 2025.The senators pointed out that although Todd Blanche claims the DOJ should not act as a regulator of digital assets, he himself held cryptocurrencies valued between $158,000 and $470,000 at the time of making that decision, which constitutes a clear conflict of interest and may violate federal laws regarding personal financial interests. The senators previously referred to the shutdown of the department as a "serious mistake," believing it would facilitate criminal activities such as sanctions evasion, drug trafficking, and fraud.The letter cited data showing that illegal cryptocurrency activities surged by 162% in 2025, primarily driven by a significant increase in cryptocurrencies received by sanctioned entities, and that money laundering networks have become a "dominant force" in the digital asset space. The senators believe that Todd Blanche's actions may violate the provisions of federal law 18 U.S.C. § 208(a) concerning the influence of personal financial interests on public decision-making. Currently, Todd Blanche has been named as a subject of a complaint by the DOJ Office of the Inspector General.

According to Cointelegraph citing Politico, U.S. Republican Senator Roger Marshall has agreed not to push for an amendment regarding credit card fees that he proposed during the Senate Agriculture Committee's review of a key cryptocurrency bill next week.The amendment aims to force businesses to compete on swipe fees, but the White House believes this move could jeopardize the advancement of the entire crypto bill, thus intervening to coordinate. The Senate Agriculture Committee was originally scheduled to review the market structure bill this Thursday, but it has been postponed to February 3 due to a winter storm sweeping across many parts of the U.S. The bill aims to clarify the regulatory responsibilities of financial regulatory agencies over the cryptocurrency industry, but the review process has been delayed multiple times as bipartisan committees attempt to garner cross-party support.

After setbacks in negotiations over cryptocurrency market legislation in the Senate Agriculture Committee, a Democratic senator's aide stated that the Democratic side is still willing to return to the negotiating table to push for a bipartisan compromise.The aide revealed that at the beginning of the new year, Democratic members were "caught off guard" during the negotiations, as the Republican side drafted a new version of the bill without sufficient consultation and originally planned to move directly into the markup process in mid-January. In response, the Democratic side hopes to re-engage with the committee chair, Republican Senator John Boozman's team, before a vote this week to strive for a bipartisan consensus.The Senate Agriculture Committee was originally scheduled to hold a markup and voting session on cryptocurrency legislation this Tuesday, but it has been postponed to Thursday due to severe weather in Washington. Meanwhile, some Democratic lawmakers are actively pushing to restart negotiations to reach a bipartisan-approved text before the hearing.The cryptocurrency market structure bill aims to establish a federal regulatory framework for digital assets, including clarifying the regulatory division between the SEC and CFTC, as well as related disclosure requirements. Analysts point out that, given that both the Senate Banking Committee and the Agriculture Committee need to advance their respective versions of the bill, bipartisan cooperation remains a key prerequisite for the smooth progress of the legislation.

According to reports, after negotiations on cryptocurrency market legislation hit a snag in the Senate Agriculture Committee, a Democratic senator's aide stated that the Democratic side is still willing to return to the negotiating table to push for a bipartisan compromise.The aide revealed that at the beginning of the new year, Democratic members were "caught off guard" during the negotiations, as the Republican side drafted a new version of the bill without sufficient consultation and originally planned to move directly into the review process this week. In response, the Democratic side hopes to re-engage with the committee chair, Republican Senator John Boozman's team, before the vote this week to seek a bipartisan consensus.The Senate Agriculture Committee was originally scheduled to hold a markup and voting session on cryptocurrency legislation this Tuesday, but it has been postponed to Thursday due to severe weather in Washington. Meanwhile, some Democratic lawmakers are actively pushing to restart negotiations to reach a bipartisan-approved text before the hearing.The cryptocurrency market structure bill aims to establish a federal-level regulatory framework for digital assets, including clarifying the regulatory division of responsibilities between the SEC and CFTC, as well as related disclosure requirements. Analysts point out that, given that both the Senate Banking Committee and the Agriculture Committee need to advance their respective versions of the bill, bipartisan cooperation remains a key prerequisite for the smooth progress of the legislation.

According to crypto journalist Eleanor Terrett's post on the X platform, the U.S. Senate Agriculture Committee plans to reconsider the crypto market structure bill this Thursday at 10:30 AM local time.

According to Coindesk, the Acting Comptroller of the Currency, Jonathan Gould (appointed by Trump), stated that the federal trust bank application related to World Liberty Financial Inc. will proceed as usual.Jonathan Gould rejected the request from Senator Elizabeth Warren for a special review of the potential conflict of interest between the president and the company.

The chairman of the U.S. Senate Agriculture Committee, John Boozman, officially unveiled the committee's version of the cryptocurrency market structure legislation on Thursday. Although the bill has made some progress on decentralized finance (DeFi) related issues, Boozman pointed out that there are still differences between the two parties on "fundamental policy issues," and formal legislation is still some distance away.Sources indicate that the Democratic opposition to the bill stems more from political differences, including concerns about potential conflicts of interest involving Trump and his family's involvement in cryptocurrency projects, as well as worries about insufficient consumer protection. According to legislative procedures, the bill requires bipartisan support to pass in the Senate, needing at least 60 votes, which means that in addition to full support from Republican senators, it must also secure at least 7 Democratic senators.Both the Senate Agriculture Committee and the Banking Committee need to hold markups and votes on their respective versions, with the Agriculture Committee's markup expected to take place next week. However, progress in the Senate Banking Committee has stalled. Previously, the markup was postponed due to Coinbase withdrawing its support, with contentious issues including tokenized stocks, the regulatory division of DeFi, the boundaries of SEC and CFTC responsibilities, and stablecoin incentive mechanisms. Bloomberg reported that the Banking Committee may delay the legislative process by several weeks to prioritize housing and affordability issues.

According to the announcement from the Senate Agriculture Committee, Chairman John Boozman has released an updated version of the cryptocurrency market structure legislation, which aims to grant the Commodity Futures Trading Commission (CFTC) new authority to regulate digital commodities.The draft has been revised based on the original bipartisan proposal, incorporating feedback from various parties. Although a final consensus with the Democrats could not be reached, Boozman emphasized that the legislative work will continue and looks forward to the formal review meeting scheduled for next Tuesday at 3 PM Eastern Time.

According to Crypto in America, the U.S. Senate Agriculture Committee is expected to release the latest text of its cryptocurrency market structure bill before the end of the workday, in preparation for the committee's review meeting next Tuesday.The release of this text will reveal key consensus points reached by both parties after two additional weeks of negotiations. The main points of contention in the bill include whether meme coins should be included in the definition of "digital commodities," overall listing standards, the classification of different tokens, the regulatory funding of the Commodity Futures Trading Commission, and ethical clauses. If the Agriculture Committee can reach a strong bipartisan agreement, it may pave the way for similar legislative processes in the Senate Banking Committee.On the other hand, the Banking Committee's review has not yet been rescheduled after being postponed last week. Currently, the pressure is mainly on Coinbase, whose sudden withdrawal of support for the bill led to the suspension of the review. Now, consensus must be reached with the banking sector on stablecoin revenue provisions to bring all parties back to the negotiating table.The Executive Director of the White House Crypto Council hinted on social media that delaying legislation could invite harsher regulations from a future government that may be less friendly to cryptocurrencies.

Galaxy Digital's research director Alex Thorn stated that the U.S. Senate Banking Committee's originally scheduled hearing on the cryptocurrency market structure bill has been postponed, highlighting the deep divisions between Congress and the industry on several key issues, particularly focusing on stablecoin yield mechanisms and DeFi-related provisions. This delay occurred just hours after Coinbase CEO Brian Armstrong withdrew his support for the bill. Armstrong publicly opposed the bill's references to tokenized securities, DeFi restrictions, and stablecoin yields. Senate Banking Committee Chairman Tim Scott subsequently announced the postponement of the hearing, but no new timeline has been provided. With the Senate set to recess next week, the earliest possible restart could be between January 26 and 30.Alex Thorn pointed out that within just 48 hours, the bill draft was released late at night, over 100 amendments were submitted, and stakeholders continued to discover new points of contention at the last minute, significantly increasing the difficulty of political coordination. On the market side, following the announcement of the delay, cryptocurrency assets generally declined, with Bitcoin and Ethereum dropping about 2% on the day; related U.S. stocks also faced pressure, with Coinbase down 6.5%, Robinhood down 7.8%, and Circle down 9.7%. In his analysis, Thorn believes that although there is a broad consensus on "market structure" itself, non-core but highly sensitive issues surrounding stablecoin yields, DeFi compliance, and granting the SEC regulatory tools in the area of tokenized securities have created an insurmountable political divide. "The apparent gap in disagreements is not large, but the substantive chasm is deep."

According to Coindesk, sources have revealed that Senate Democrats have returned to the negotiating table to discuss the best approach for the cryptocurrency market structure bill. They held a conference call with representatives from the cryptocurrency industry, where lawmakers engaged in in-depth discussions about the next steps.This week, the Senate's plan for a first vote on the bill was suddenly postponed, after which Democrats attempted to show that they are still prepared to advance the legislation. The draft bill released this week has sparked significant criticism, and U.S. cryptocurrency exchange Coinbase also announced that the company cannot support this version.