According to Odaily, U.S. Senator Cynthia Lummis stated on Wednesday that the window for passing cryptocurrency legislation in 2024 is narrowing, but there is still a possibility for some bills to be approved this year. While neither she nor Senator Tim Scott delved into the specifics of any particular bill, Lummis mentioned the work of the Senate Agriculture Committee. Scott also spoke at the SALT Wyoming seminar held before the Federal Reserve's annual Jackson Hole meeting.

During their brief appearance at SALT, Lummis and Scott appealed to voters, asserting that Republicans are more supportive of the cryptocurrency industry's interests compared to Democrats. Scott, the leading Republican on the Senate Banking Committee, has rarely spoken on cryptocurrency issues during his tenure. However, at last month's Bitcoin Nashville conference, he advocated for more lenient regulatory bodies and expressed support for crypto-friendly legislation. If Republicans gain control of the Senate, Scott would become the chairman. On Wednesday, he suggested that if he held the position, there could be a subcommittee focused on digital assets. This would, according to Scott, clarify discussions, lead to more banking hearings, and expedite the legislative process, allowing for quicker and more substantial progress.