On December 11, thehill reported that senators plan to resolve key differences in the legislation regulating the cryptocurrency industry during the remaining working days of this year, so that the bill can pass out of committee after several months of discussion. Although the Democrats want to modify the draft, and legislators will be leaving town for the holidays in a few days, Republicans are determined to review and amend the cryptocurrency market structure legislation next week.

An industry insider familiar with the legislative process of market structure stated, "Time is too tight. Realistically, there are about 48 hours left to determine whether this bill can move forward next week."

The main leader of cryptocurrency legislation, Wyoming Republican Senator Cynthia Lummis, said on Tuesday that her goal is to release an updated draft that she believes is the "best outcome so far" by this weekend, and to review and amend the bill next week. She stated at the Blockchain Association policy summit: "I feel like we are at a critical point now, it's best to come up with a proposal, finish the review and amendments next week, and everyone can enjoy a good break over the Christmas holiday."

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