Wall Street and the crypto community have privately made "progress" on market structure legislation.

SIFMA, a major Wall Street trade organization, held a private meeting with representatives from the DeFi and crypto industry to discuss disagreements over the Senate's crypto market structure bill, with "progress" made particularly regarding DeFi regulatory provisions. SIFMA objected to regulatory exemptions for certain decentralized financial services and their developers, and the industry attempted to persuade them to change their stance during the meeting. The bill faces a crucial Senate vote next week, and both sides are pressed for time to reach a compromise.