In a recent interview, Senator Cynthia Lummis (R-WY) expressed optimism about the future of pro-crypto legislation, despite President Biden's potential veto threat. She referred to H.J.Res. 109, a resolution that repeals a prior SEC rule making it difficult for regulated banks to offer crypto custody services. Despite Biden's initial threat to veto, the bipartisan support for the resolution may cause a reconsideration.

Two other crypto-focused bills, FIT21 and the CBDC Anto Surveillance State Act, also passed through the House recently, demonstrating growing bipartisan support. However, Lummis noted that resistance remains, primarily from the "progressive wing" of the Democratic party, who are uncomfortable with assets not controlled by the government.

Lummis encouraged the crypto industry to engage with policymakers and educate them about digital assets, highlighting the political opportunity in 2024 to establish a lasting framework for the digital asset industry.