ChainCatcher message, the new Congress is expected to be the most supportive of cryptocurrency. The chairman of the House Financial Services Committee will be led by French Hill, who has been involved in the drafting of several cryptocurrency-related bills, including the stablecoin regulatory bill and the market structure bill FIT21.

Hill stated that if the FIT21 and stablecoin bills fail to pass during the 'lame duck' session, these two bills will become his top priority in the 119th Congress.

Ron Hammond, the director of government relations at the Blockchain Association, stated: 'Legislators typically need about three to four months to acclimate, but after that they are likely to get to work quickly. We will see many bills we are very familiar with being reintroduced.'