US Senate bipartisan cryptocurrency regulation talks stall

According to The Hill, legislation to establish clear regulatory rules for the cryptocurrency industry has hit a roadblock in the Senate, making its path increasingly uncertain. A draft bill submitted by Senate Democrats in early October, known as the "Preliminary Plan for Decentralized Finance Regulation," was leaked and met with strong opposition from the cryptocurrency industry. Negotiations have stalled this month, derailing negotiations between Republicans and pro-crypto Democrats. With Congress currently grappling with the government shutdown, the bill's chances of passage before the end of the year are in doubt.