Odaily Planet Daily News: Recently, an increasing number of lawmakers from both parties in the United States have expressed their hope that Congress can pass major legislation related to cryptocurrency before the end of the year.
Both Democrats and Republicans in the House and Senate seem optimistic that both houses of Congress can use the so-called "lame duck" session - from the November presidential election to the dissolution of the 118th Congress at the end of the year - to ultimately pass legislation that legalizes most areas of the cryptocurrency industry.
New York State Senator Kirsten Gillibrand said during Washington Fintech Week, "I think it would be great if we could complete a market structure bill during the 'lame duck' session." He was referring to bills like FIT21, which would create a federal framework for regulating digital assets.
Gillibrand detailed that as several lawmakers who support cryptocurrency retire from Congress during the Christmas period, including Patrick McHenry, Chairman of the House Financial Services Committee, and Senator Debbie Stabenow, there may be enough collective will in December to ultimately push for some cryptocurrency legislation to be passed.
I know Chairman McHenry is about to leave, and this is his top priority, "Gillibrand said." I hope he can work with me and Cynthia Lummis of the Senate, and with Maxine Waters, a senior member of the House Financial Services Committee, to come up with some recommendations on market structure or stablecoins before the end of this Congress. That would be very powerful
On Tuesday, Congressman French Hill, Vice Chairman of the House Financial Services Committee, expressed the same view during a speech at Washington Fintech Week, agreeing that multiple cryptocurrency legislation will definitely become law before the New Year. "I remain optimistic that the regulatory framework bill FIT21 and the stablecoin bill may be considered during the lame duck session," he said
