Negotiations on the U.S. cryptocurrency market structure bill have stalled due to unresolved issues in four key areas, according to recent documents. The main points of contention include the regulation of DeFi, which requires alignment with U.S. federal financial standards, yet lacks clear definitions. Additionally, the GENIUS Act's provision allowing stablecoin issuers' affiliates to offer earnings is seen as a threat to traditional banking, prompting some Democrats to seek restrictions on crypto earnings. Further complications arise from proposed ethical standards barring senior U.S. officials from benefiting personally from crypto activities. The role of the U.S. Commodity Futures Trading Commission (CFTC) in leading crypto regulation is also under debate, with a need to balance political representation. A hearing on the bill, initially scheduled for January 15, remains uncertain as these issues persist.