Senate Democrats to Meet Crypto Leaders as Market Bill Stalls

In Brief

• Senate Democrats meet top crypto executives as bipartisan talks over DeFi rules collapse.
• Coinbase, Chainlink, Kraken, and others join roundtable led by Senator Gillibrand.
• CFTC adds industry voices as lawmakers debate SEC-CFTC split in crypto oversight.

Senate Democrats will host top crypto executives on October 22, 2025, for a roundtable focused on market structure policy. Senator Kirsten Gillibrand will lead the session as bipartisan efforts remain stalled following legislative disagreements.

Participants include Coinbase CEO Brian Armstrong, Chainlink CEO Sergey Nazarov, and Galaxy Digital CEO Mike Novogratz. Other attendees are Kraken’s David Ripley, Uniswap’s Hayden Adams, and executives from Circle, Ripple, Jito, a16z Crypto, and the Solana Policy Institute.

The meeting comes days after a leaked Democratic draft on DeFi triggered criticism from Republicans and crypto industry leaders. The proposal addressed illicit finance and arbitrage risks but was rejected as restrictive and unclear.

Senate Banking Chair Tim Scott paused progress on the broader bill until there is agreement on a markup timeline. While the House passed the CLARITY Act in July, Senate action may now be delayed into 2026.

CFTC Expands Industry Input as Lawmakers Debate Oversight Split

The legislation under review aims to split crypto oversight between the SEC and CFTC to define asset classifications more clearly. Republican-backed language supports identifying non-security tokens as “ancillary assets” under CFTC oversight.

In response to regulatory uncertainty, the CFTC appointed industry voices to advisory roles in October. These include Uniswap’s Katherine Minarik and Chainlink’s Ben Sherwin to help guide digital asset policy.

Crypto stakeholders continue to urge clarity as the U.S. regulatory approach lags behind global developments. Analysts warn that further delays could push significant reforms past the 2026 midterms.

Meanwhile, the market awaits outcomes from this roundtable, which may influence the next phase of crypto legislation. More participants may be added as discussions evolve.