According to Eleanor Terrett, leading U.S. Senator Cynthia Lummis has set a target for comprehensive crypto legislation to be finalized before the end of the 2024 calendar year. While the Senate recently passed a stablecoin bill, Lummis acknowledged that achieving broader market structure regulation faces significant bipartisan challenges, describing the effort to secure Democratic votes as a "tooth-pulling exercise." The report highlights that key disagreements persist, including a Democratic push to potentially ban senior government officials from engaging in crypto businesses. For traders, this extended timeline and political division in the Senate, which Lummis calls the "highest hurdle," introduce continued regulatory uncertainty that could influence market sentiment and delay the establishment of a clear operational framework for digital assets in the United States.