Senate Democrats Signal Openness to Revive Crypto Bill
Industry Leaders Push for Bipartisan Path on Market-Structure Reform.
Crypto executives, including Chainlink’s Sergey Nazarov and Coinbase’s Brian Armstrong, met with U.S. Senate Democrats on Wednesday to discuss reviving stalled crypto-market legislation. Lawmakers signaled continued bipartisan appetite to advance a comprehensive regulatory bill before 2026.
A coalition of leading crypto CEOs met with Senate Democrats this week to hash out next steps for long-debated U.S. digital-asset regulation.
Participants included Chainlink co-founder Sergey Nazarov and Coinbase CEO Brian Armstrong, who later met with Republican lawmakers. The meetings come as Capitol Hill scrambles to revive a Senate version of the House’s Digital Asset Market Clarity Act, aimed at defining the roles of the SEC and CFTC in overseeing crypto markets.
“There’s a sufficient level of Democratic support,” Nazarov said, noting that more than 10 senators participated and “are committed to making the bill a success.”
Bipartisan Momentum Amid Rising Tensions
The talks were spearheaded by Sen. Kirsten Gillibrand (D-NY), a long-time proponent of digital-asset legislation. Democrats reportedly expressed a desire to address illicit-finance and DeFi oversight, while Republican negotiators, led by Sen. Tim Scott (R-SC), called for Democrats to “return to the negotiating table.”
Despite leaks of stricter Democratic DeFi proposals that unsettled the industry, Nazarov described the current friction as “transitory.”
Meanwhile, Armstrong signaled optimism on X, saying Coinbase is “keeping the pressure on in DC” and promoting its Stand With Crypto campaign to rally voter support.
Policy Window Narrows
The Senate Banking Committee, chaired by Scott, remains the only body to have circulated a full draft. Any legislation would still need to clear both chambers before reaching President Donald Trump’s desk.
Still, Solana Policy Institute President Kristin Smith said the meetings have “reset the conversation,” adding that even without a 2025 bill, regulatory progress continues through agency rulemaking at the SEC and CFTC.
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Source disclosure:
Based on reporting from CoinDesk and statements from participating lawmakers and industry executives.