Democrats Slam SEC Over Crypto Bill Chaos

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 5 June 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Democrat frustration boils over after an SEC technical briefing on the crypto market structure bill goes disastrously wrong. NLW explores accusations of deliberate obstruction, political delay tactics, and how internal conflicts and rushed legislation risk undermining crypto’s bipartisan push. Meanwhile, the Trump family's sprawling crypto projects cause further complications for a fragile industry caught between regulation and political spectacle. Brought to you by: Grayscale offers more than 20 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal. To learn more, visit ⁠⁠⁠Grayscale.com⁠⁠⁠ -- ⁠⁠⁠https://www.grayscale.com//?utm_source=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-thebreakdown)⁠⁠ Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.3	What's going on, guys? It is Wednesday, June 4th, and today we are talking about the Democrats
0:22.7	being furious about the SEC briefing on the market structure bill. Before we get into that,
0:27.9	however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review,
0:31.9	or if you want to dive deeper into the conversation, come join us on the Breakers Discord.
0:35.8	You can find a link in the show notes or go to bit.ly slash breakdown pod. All right, friends, one of the continually evolving stories right now with
0:44.0	potentially big impacts on the industry is the tension between, on the one hand, the Trump
0:50.3	empire's deepening engagement with crypto and on the other hand, congressional Democrats.
0:55.7	Now, from a policy standpoint, right now the market structure bill is starting to get off the
1:00.0	ground. House Financial Services Committee Chair French Hill introduced a new version of the
1:04.5	bill late last week, known as the Clarity Act. We'll walk through the key changes in greater detail
1:09.0	later this week as opinions in the crypto-legal community are still forming. However, the controversy from Tuesday revolves around a botched
1:15.7	SEC technical briefing presented to Democrat staffers last week. Technical briefings are routinely
1:21.2	conducted by government agencies to walk congressional staffers through new bills and answer questions
1:25.8	about implementation. Given permission to speak freely at a press conference on Tuesday, Democrat staffers through new bills and answer questions about implementation. Given permission
1:27.9	to speak freely at a press conference on Tuesday, Democrat staffers said that this was, quote,
1:32.6	the worst technical assistance briefing they'd ever witnessed. These briefings are usually
1:37.2	conducted by subject matter experts from the agency to ensure they can provide in-depth answers.
1:42.3	The staffers said that a member of the Crypto-Task Force,
1:44.9	legislative affairs staff, and someone from the Office of General Counsel were on the call.
1:49.2	One aide said that this was a, quote, stark departure from how the agency has ever worked
	...

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