Two key U.S. lawmakers are pushing for cryptocurrency regulation legislation, hoping to pass it by the end of the year. Despite the challenges of political procedures, they still believe it is possible to achieve this goal during the lame duck session through subtle legislative means. Rep. McHenry and Senator Loomis emphasized the importance of crypto legislation, pointed out that Europe has taken the lead in this field, and proposed that the United States should establish a strategic reserve of Bitcoin.

Key Points

- Republican U.S. lawmakers McHenry and Loomis still plan to push cryptocurrency legislation before the end of the year.

- The "lame duck" session provides an opportunity to discuss legislation before the new Congress.

- The legislative effort has broad bipartisan support, including 71 House Democrats.

- The two lawmakers believe that the United States needs to catch up with Europe in crypto regulation.

- Loomis proposed the establishment of a strategic reserve of Bitcoin, adding trillions of dollars over a 20-year period.

- McHenry acknowledged that legislation may need to be tied to fiscal spending plans.

- Lawmakers are concerned that delays may be pushed back to the next Congress at the end of 2025.