Schumer Confident in Bipartisan Crypto Regulation by Year-End

Senate Majority Leader Chuck Schumer expressed confidence in passing bipartisan crypto regulation before the end of the year, signaling a significant development in the intersection of cryptocurrency and U.S. politics. Schumer emphasized that passing crypto legislation in 2024 is "absolutely possible," reflecting growing support among Democratic lawmakers for a balanced approach to regulation. Although Schumer did not endorse a specific bill, he referenced the Financial Innovation and Technology for the 21st Century Act (FIT21), which has already passed the House, and an upcoming Senate Agriculture Committee bill.

The optimism surrounding crypto legislation was showcased at the "Crypto4Harris" event, a significant moment in positioning Vice President Harris as a crypto-friendly presidential candidate. Prominent Democrats like Senator Kirsten Gillibrand and Representatives Adam Schiff and Elissa Slotkin assured the crypto community of potential support for balanced regulation. Despite the growing political influence of the crypto industry, Schumer acknowledged the challenges ahead, particularly as the general election approaches and the Senate's slower progress compared to the House in advancing crypto-related bills.

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