US Senator: Crypto legislation negotiations suffer setback, SEC and CFTC regulatory division of labor remains divided Senator Moreno described the cryptocurrency legislation negotiations as "quite unsuccessful" and plans to meet with Democratic lawmakers on Tuesday. The Senate Banking Committee draft proposes a classification of "ancillary assets" to delineate the responsibilities of the SEC and CFTC, in collaboration with the Agriculture Committee. The committee chairman Scott revealed that the bill may be reviewed on December 17th or 18th, but Senator Warner pointed out that he is still waiting for the White House's opinion. There are still differences in the draft regarding stablecoin returns and DeFi regulation. Some lawmakers are concerned about potential conflicts of interest for President Trump, as the Trump family has benefited approximately $620 million through projects such as World Liberty Financial.