U.S. lawmakers are under pressure to pass comprehensive cryptocurrency legislation by 2026, with a focus on finalizing a market structure bill before the midterm elections. The proposed legislation aims to address key issues such as stablecoins, decentralized finance (DeFi), and the oversight role of the Securities and Exchange Commission (SEC). The debate centers on liquidity and the broader crypto market, with Senate Banking and Agriculture committees needing to align their drafts. Challenges include staffing issues at the Commodity Futures Trading Commission (CFTC) and potential conflicts from the Trump era. The period following the 2026 elections is viewed as a critical window to advance the bill.