U.S. lawmakers are poised to seize another opportunity to advance cryptocurrency legislation in the new year. Upcoming proposals may gain additional support in 2025, especially with the backing of President Donald Trump, who has shown commitment to the cryptocurrency sector, potentially strengthening it in the coming year.
Anticipated Cryptocurrency Legislation
In 2024, Washington is expected to witness the formation of a pro-cryptocurrency Congress. This is particularly significant given President Trump’s promises regarding cryptocurrencies. Representative French Hill, who will chair the House Financial Services Committee at the start of the new year, plans to take new steps toward regulating cryptocurrencies.
Hill has previously worked on legislation concerning stablecoin regulations and a market structure proposal known as FIT21. If the FIT21 and stablecoin bills do not pass this year, they are expected to become top priorities in the 119th Congress.
FIT21 and Cryptocurrency Regulations
The FIT21 bill aims to introduce significant changes in the cryptocurrency market, particularly strengthening regulations surrounding Bitcoin 
$66,546 and digital commodities. However, the future of FIT21 remains uncertain due to potential changes in the structures of regulatory bodies like the SEC and CFTC. Additionally, a bill proposing the U.S. Treasury to acquire one million BTC within five years, prepared by Senator Cynthia Lummis, is also under consideration.
As for the likelihood of cryptocurrency laws being approved in 2025, many factors will come into play, making the process complex due to Congress’s numerous priorities.
