US lawmakers are preparing to revisit asset market structure legislation.
Advocates expect Senate committees to consider bill markups January soon.
The legislation aims to clarify regulatory oversight of cryptocurrencies nationwide.
It previously passed the House as the Asset Clarity Act.
The proposal would expand authority of the Commodity Futures Commission.
Early drafts encourage cooperation between CFTC and Securities Exchange Commission.
Supporters believe clearer rules could reduce uncertainty for crypto businesses.
Opponents warn political calendars may slow legislative momentum significantly nationwide.
Senator Thom Tillis previously cautioned campaigning could delay crypto bills.
Attention has also focused on Senate Banking Committee scheduling decisions.
Sources say a markup could occur during January second week.
The Senate Agriculture Committee is considering its own version separately.
Advocacy groups argue the bill balances innovation and consumer protection.
Cody Carbone highlighted expectations for movement early next year legislatively.
Carbone leads The Digital Chamber which lobbies for digital assets.
Uncertainty remains over whether enough votes exist for passage eventually.
Another challenge emerged after Senator Cynthia Lummis announced retirement plans.
Lummis said her energy no longer matched six year term.
Despite leaving Congress she continues urging colleagues to advance legislation.
Lawmakers return from recess facing pressure to address crypto rules.