According to Jake Chervinsky, most market participants expect the Senate to begin its crypto market structure reform from a different legislative foundation—specifically, the Responsible Financial Innovation Act (RFIA) or the Digital Commodities Act (DCA), rather than the recently discussed FIT21 bill (source: Jake Chervinsky on Twitter, May 27, 2025). Chervinsky notes that reconciling new versions of these crypto regulation bills will be highly challenging, and completion before the end of summer is improbable. For crypto traders, this delay in regulatory clarity could prolong market uncertainty, potentially increasing volatility and affecting sentiment across major digital assets.