Wall Street, Crypto Leaders Make 'Progress' on Crypto Bill in Private Meeting: Sources

TL;DR:

Leaders of a major Wall Street trade group and DeFi-focused crypto leaders are trying to hash out key disagreements before the market structure bill faces a do-or-die Senate vote next week.

Key Points:

Background:

Decentralized Finance (DeFi) refers to financial services built on blockchain networks that operate without traditional intermediaries like banks. DeFi protocols enable lending, borrowing, trading, and earning yield on cryptocurrency assets through smart contracts.

Why It Matters:

DeFi represents a fundamental reimagining of the financial system, offering permissionless access to financial services globally. DeFi developments impact how value is exchanged, stored, and utilized in the crypto ecosystem, driving innovation in financial products and services.