Senator Cynthia Lummis is aiming for passage of a Bitcoin regulation bill before Christmas, with its potential impact set to reshape the landscape of U.S. crypto regulations and integration into the financial system. The legislation seeks to modernize tax codes, establish a U.S. Bitcoin Reserve, and address market structure changes that could influence liquidity and regulatory clarity. Senators Justice, Tuberville, and Moreno have been involved in drafting this bill with support from Lummis’s efforts to integrate digital assets within the U.S. financial system. The key aims of the bill include enhancing investor protections, potentially boosting institutional participation in US crypto markets, and generating approximately $600 million in revenue. The potential market impact is significant as the legislation may influence how Bitcoin and other digital assets are taxed, brokered, and managed by the federal government. If approved, it’s expected to shape US crypto norms, impacting both BTC and stablecoin markets.