U.S. Senate Democrats are set to meet with leading crypto executives this week to discuss the stalled market structure legislation crucial for regulating the crypto sector. Despite initial optimism, the bill's progress has been hampered by contentious negotiations and political delays, prompting industry leaders to advocate for open communication and bipartisan support to advance the legislation.

Twelve Senate Democrats are urging their Republican counterparts to establish a bipartisan authorship process for crypto market structure legislation, emphasizing collaboration rather than merely commenting on a GOP-drafted bill. They are advocating for a more significant role in shaping the legislation and closer coordination with the Senate Agriculture Committee.

The U.S. Senate is set to vote on the GENIUS Act, a significant stablecoin legislation requiring bipartisan support amid tensions between Democrats and Republicans. The bill aims to ensure stablecoins are fully backed by U.S. dollars and short-term Treasury assets, but faces opposition from within both parties regarding its provisions and implications.