Svmuu News: SIFMA, a major Wall Street trade group, held private meetings with representatives from the DeFi and crypto industries to discuss differences regarding the Senate’s Crypto Market Structure Act, making “progress” particularly on DeFi regulatory provisions. Sources indicate that SIFMA has recently opposed regulatory exemptions for certain DeFi protocols and developers in the bill, while also working with banking lobby groups to push for restrictions on yield-generating USD-pegged stablecoins. The crypto industry, meanwhile, is attempting to persuade SIFMA to scale back its demands to avoid undermining the results of bipartisan negotiations. The window of opportunity is rapidly closing. Senate Banking Committee Chairman Tim Scott plans to move the bill forward for consideration next week. It is widely believed within the industry that if the bill fails to secure bipartisan support at the committee stage, it will struggle to reach a full Senate vote. The bill is viewed as key legislation for reshaping the U.S. crypto regulatory framework, and its ultimate outcome remains highly uncertain. (Decrypt)