Industry observers note that lawmakers are actively resolving critical points in the cryptocurrency regulation debate as year-end nears, aiming to advance the broader crypto legislation from committee after months of negotiation. The timetable is tight due to impending holiday adjournments and competing party priorities.

Within the market structure legislation dialogue, Republicans are seeking additional refinements next week while Democratic members push for further modifications to the draft. Sources familiar with the process say the window to gauge momentum is narrow, with about 48 hours to determine next steps.

Senator Cynthia Lummis, the leading advocate, plans to circulate an updated draft by the weekend and schedule revisions for the following week. At the Blockchain Association policy summit, she framed the move as a path to regulatory certainty ahead of the Christmas break.