TLDR
- Ripple, Coinbase, and other executives to meet Democrats for crypto policy talks.
- Meeting follows delays in crypto ETF approvals amid a U.S. government shutdown.
- Leaders to discuss DeFi regulation, market structure, and ETF compliance updates.
- BNY Mellon and SEC listing standards drive crypto industry regulatory alignment.
Executives from major crypto firms, including Ripple, Coinbase, Chainlink, Galaxy, Kraken, Uniswap, and Circle, are set to meet pro-crypto Senate Democrats this week. The roundtable comes amid delays in crypto ETF approvals and a volatile market. Leaders are expected to discuss regulatory frameworks, DeFi policies, and market structure. The meeting is part of ongoing efforts to engage lawmakers after backlash over a leaked Democratic proposal.
Key Crypto Executives Join the Roundtable
Several high-profile executives are attending the session led by Senator Kirsten Gillibrand. Coinbase CEO Brian Armstrong, Chainlink founder Sergey Nazarov, Galaxy CEO Mike Novogratz, Kraken CEO Dave Ripley, and Uniswap founder Hayden Adams are confirmed participants.
Crypto policy leaders will also take part. Ripple CLO Stuart Alderoty, Circle CSO Dante Disparte, Jito CLO Rebecca Rettig, Solana Policy Institute president Kristin Smith, and a16z crypto GC Miles Jennings are listed among attendees. The presence of both CEOs and policy officers demonstrates the industry’s focus on regulatory dialogue.
Regulatory Discussions and DeFi Concerns
The meeting follows stalled negotiations with Republicans and concerns over a Democratic proposal on DeFi regulation. Industry leaders argued the proposal could restrict crypto innovation. Armstrong and legal expert Jake Chervinsky have publicly criticized aspects of the plan, calling for balanced rules that support growth.
Executives are expected to discuss market structure legislation and the future of decentralized finance. The roundtable will provide an opportunity to clarify regulatory expectations and offer feedback on upcoming policies. Alderoty said, “We want to work with lawmakers to create clear rules that support responsible innovation.”
Delays in Crypto ETF Approvals
The roundtable coincides with postponed decisions on several crypto ETFs. The U.S. government shutdown has delayed the SEC’s review of applications, including those for XRP, Solana, and Litecoin ETFs. Issuers are updating filings to meet the Generic Listing Standards requested by the SEC.
These delays have affected market sentiment. The total crypto market cap fell to $3.5 trillion after over $850 billion was wiped out in recent crashes. The Crypto Fear & Greed Index shifted sharply from greed to extreme fear in one week. Market analysts say regulatory clarity could help restore confidence.
Industry Response and Next Steps
Executives are preparing to present proposals and discuss compliance measures. The industry seeks frameworks that allow ETFs and other crypto products to function within clear rules. “We are committed to working constructively with regulators and lawmakers,” said Disparte of Circle.
The roundtable represents a key moment for the crypto industry. Engagement with Senate Democrats may influence ETF approvals and shape DeFi regulation. As Ripple, Coinbase, and other firms meet policymakers, the industry continues efforts to integrate with formal financial and regulatory systems.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
