Senator Cynthia Lummis identifies legislative complexity and committee processes as primary hurdles, despite bipartisan support and White House interest. Comprehensive crypto regulation requires reconciling multiple jurisdictional claims between the SEC and CFTC, alongside addressing novel technical challenges like DeFi oversight and stablecoin issuance.
The August timeline proposed by the Trump administration appears unrealistic given current legislative calendars and unresolved policy debates. Key sticking points include consumer protection frameworks, tax treatment of digital assets, and national security concerns around blockchain analytics.
Industry advocates remain cautiously optimistic about year-end passage, noting increased education among lawmakers and alignment with global regulatory trends. The upcoming Bitcoin Policy Summit provides a critical forum for resolving outstanding issues, though election-year politics could still delay final votes.
