TechFlow reports that Senate Majority Leader Chuck Schumer said during an online event organized by Crypto4Harris that there is hope for passing cryptocurrency legislation this year.
Schumer emphasized: "We all believe in the future of crypto. Congress has a responsibility to provide common-sense, reasonable regulation for cryptocurrency, and we need your support to ensure any proposal is bipartisan." He stated the goal is to pass and sign a bill into law before year-end, though he did not specify the details of the proposed legislation.
Schumer referenced the House-passed Financial Innovation and Technology for the 21st Century Act (FIT21), as well as a bill currently being developed by the Senate Agriculture Committee.
Several Democratic lawmakers attended the event, expressing support for the cryptocurrency industry. Senate Agriculture Committee Chairwoman Debbie Stabenow said the goal is to "provide a structure that both protects consumers and allows innovation to thrive." However, with the election approaching, significant policy progress faces numerous practical hurdles.
