There is an interesting development behind the scenes regarding the crypto market structure bill in the United States. Senator Tim Scott, who leads the Senate Banking Committee, recently announced that negotiations are gaining positive momentum at the DC Blockchain Summit.

According to Scott, the first proposal for certifying stablecoins might arrive within this week. He said that if it really happens before the end of the week, they will have a clearer picture of where this bill is headed. The stablecoin issue is indeed the most widely discussed in public, but apparently lawmakers are still actively negotiating behind the scenes.

Scott gave credit to Senators Angela Alsobrooks, Thom Tillis, and Patrick Witt from the White House for their hard work. It turns out it’s not only stablecoins that are being negotiated. There are several other major issues that are also being discussed, especially over the past month.

One of them is concerns about a crypto project involving President Trump and his family. There are also quorum and bipartisan composition issues within regulatory agencies, plus KYC rules that are still under debate. DeFi is also a focus for Senator Mark Warner, while anti-money laundering (AML) remains an important part of the discussion.

However, some challenges are still hanging in the air. Ron Hammond from Wintermute estimates there is only a 30% chance that the Clarity Act will be passed this year, given the ongoing uncertainty. Rejections from the banking sector, especially related to stablecoin yield, remain the biggest obstacle. This is not the first time the traditional financial industry has shown resistance to crypto innovation—they are worried about market mechanisms they don’t fully understand, much like how people often remain skeptical about things they don’t fully understand.

So overall, there is real progress at the negotiation table, but there is still a lot of work to be done. Lawmakers are working hard to balance various interests, from the crypto industry to traditional financial regulation. Next week will be decisive in whether this momentum can continue or whether it will lose speed.