Speaking of Labor Day, we’re only just now in the final stretch—DeFi and the ethical rules/provisions are still being worked over. I’ve got to say, I’m impressed with the speed of US legislation.

CoinWorld news: the U.S. Senate’s schedule is facing conflicts, as election bills, farm bills, and crypto reform are all competing for speaking time. Senator Cynthia Lummis said the Senate still plans to take action in July on a clear bill for crypto assets, despite months of intense negotiations. Lummis revealed that lawmakers have been negotiating a crypto market structure bill since last Labor Day and that it has now entered the final stage. She noted that recent revisions to the “Brilliant Act” have raised new complexities, as banks have expressed concerns about provisions related to stablecoins. Even so, she praised the help of Senators Bill Hagerty, Ted Budd, and Tom Tillis in addressing these issues. Lawmakers are still working to refine the details of decentralized finance and ethics provisions. Lummis said the Senate plans to release a technical draft during the July 4 recess before continuing to push the effort forward.