TLDR
- Ripple, Coinbase, and other major crypto firms are meeting Senate Democrats to discuss crypto ETF legislation.
- Senator Kirsten Gillibrand is leading the meeting to revive progress on U.S. crypto market structure rules.
- Executives from Uniswap, Kraken, Chainlink, Circle, and Galaxy Digital are expected to join the discussion.
- Bipartisan negotiations remain stalled as Republicans and Democrats propose competing crypto frameworks.
- Republicans have introduced a bill to define SEC and CFTC roles and clarify token classifications.
- Democrats are drafting a new framework that focuses on limiting illicit activities in decentralized finance.
A key meeting between crypto executives and Senate Democrats will take place Wednesday to discuss crypto ETF legislation and regulation. Senator Kirsten Gillibrand is leading the roundtable as bipartisan talks over digital asset rules remain stalled in Congress. Major crypto firms like Ripple and Coinbase will participate in the dialogue, aiming to revive progress on the market structure bill.
Coinbase, Ripple, and Top Executives Push for Clarity
Executives from Coinbase, Ripple, Uniswap, Chainlink, Kraken, and others will meet with Senate Democrats to discuss crypto market structure. The gathering follows long delays in establishing federal rules as crypto ETF discussions gain urgency across legislative and regulatory platforms. Participants include Coinbase CEO Brian Armstrong and Ripple’s Chief Legal Officer Stuart Alderoty.
Senator Gillibrand, who co-sponsored the Responsible Financial Innovation Act, seeks to advance crypto rules through bipartisan support. While Democrats and Republicans remain divided, both sides acknowledge the urgency around crypto ETF clarity. The meeting also includes leaders from Solana Policy Institute, Circle, Galaxy Digital, and a16z Crypto.
Gillibrand remains one of the few Democrats publicly pushing for comprehensive legislation. She supports more explicit rules for the digital asset space, especially around the treatment of crypto ETFs. The roundtable may serve as a platform to align differing policy views across the Senate.
Democrats, Republicans Diverge on Regulation Ahead of ETF Decisions
Democrats are currently preparing an alternative framework focused on limiting illicit activity in decentralized finance. A six-page draft circulating in Washington has drawn criticism from both crypto leaders and Senate Republicans. The proposed framework, critics argue, could hamper innovation and further stall crypto ETF progress.
🚨SCOOP: These crypto C-suites are expected to attend a roundtable with pro-crypto Senate Democrats on Wednesday to discuss market structure legislation and the path forward:
📌Coinbase CEO @brian_armstrong
📌Chainlink CEO @SergeyNazarov
📌Galaxy CEO @novogratz
📌Kraken CEO…— Eleanor Terrett (@EleanorTerrett) October 20, 2025
Republicans have introduced their own crypto bill, which defines SEC and CFTC roles and outlines ancillary asset classifications. Their plan proposes to distinguish specific tokens from securities, a move seen as pro-innovation by industry leaders. These definitions are central to ETF-related approvals and broader market participation.
Despite disagreements, both parties continue to consult with the crypto industry. The meeting with top executives shows commitment to ongoing dialogue around crypto ETF structures. However, analysts warn that legislative progress could be delayed until after the 2026 midterm elections.
CFTC Appointments Signal Growing Focus on Crypto ETF Oversight
The CFTC recently appointed new members to its Digital Asset Markets Subcommittee, deepening its engagement with the crypto sector. Appointees include representatives from Uniswap Labs, Chainlink Labs, Aptos Labs, and BNY, highlighting institutional involvement. These appointments could influence future rulings around crypto ETF products.
The CFTC’s engagement complements ongoing discussions within Congress, as regulators weigh different approaches to digital assets. Many industry leaders view such efforts as essential to creating a consistent path for crypto ETF approvals. The agency aims to combine industry insights with regulatory priorities for effective policymaking.
Increased coordination between lawmakers and regulators may help standardize definitions around tokens, exchanges, and crypto ETF offerings. Industry insiders hope that regulatory clarity will boost investor confidence and attract broader institutional participation. However, the political divide remains a challenge to achieving unified policy outcomes.
National Security Adds Pressure to Regulatory Timelines
In September, Congressman Zachary Nunn urged a national review of Chinese-linked crypto firms Bitmain and Cango. He cited ownership concerns, potential foreign influence, and risks to U.S. infrastructure as reasons for a formal investigation. The letter called on the Treasury Department to launch a CFIUS probe into the firms.
These developments have increased political scrutiny of the crypto sector, especially regarding foreign influence. Security concerns may add pressure on Congress to fast-track decisions, including those affecting crypto ETFs. With mining operations expanding, lawmakers seek to protect national interests and financial stability.
While crypto ETF approvals remain pending, broader national and economic factors will influence their legislative timeline. Regulatory momentum could shift as security reviews, executive input, and bipartisan talks continue.
