#数字资产市场动态 Chairman of the U.S. Senate Agriculture Committee, John Bozeman, disclosed on Thursday the committee's version of the cryptocurrency regulation legislation. From the perspective of decentralized finance, there has indeed been some progress, but Bozeman admitted that there are still significant disagreements between the two parties on "core policy positions," and the final implementation will require going through many procedures.

The Democrats' concerns are mainly not about the provisions themselves—sources revealed that they are more politically motivated. They are worried about Trump's and his affiliates' interests in crypto projects, as well as concerns over insufficient consumer protection.

According to Senate rules, such legislation requires bipartisan support to pass, with a threshold of 60 votes. In other words, even if all Republican senators support it, at least 7 Democratic votes are needed. Both the Agriculture Committee and the Banking Committee need to review and vote on it separately, with the Agriculture Committee's review scheduled for next week.

The problem is that the Banking Committee has already hit a snag. A major trading platform previously withdrew its support, causing delays in the review process. There are many points of controversy—tokenized stocks, the division of regulatory authority over DeFi, the boundaries of SEC and CFTC functions, and the incentive design for stablecoins. According to reports, the Banking Committee may postpone crypto legislation for a few weeks and instead focus on addressing housing affordability issues.