Crypto is garnering support among U.S. legislators, with Senator Cynthia Lummis asserting, "We are building a pro-crypto army in Congress." This declaration follows the House of Representatives' passage of the Financial Innovation and Technology for the 21st Century Act (FIT21) crypto bill, despite opposition from the White House and SEC Chairman Gary Gensler.

Senator Lummis, along with Senator Kirsten Gillibrand, introduced a bill to balance financial innovation and consumer protections. Lummis expressed optimism about America's crypto role, highlighting efforts to craft a bill promoting financial innovation while safeguarding consumers.

However, Senator Elizabeth Warren has expressed reservations about cryptocurrencies, opposing their widespread adoption. In contrast, former President Donald Trump's campaign has embraced crypto, accepting donations through Coinbase Commerce.

Recently, both the Senate and the House voted to overturn the SEC's Staff Accounting Bulletin 121 (SAB 121), seen as a win for financial innovation. Lummis hailed this as a significant victory against the Biden administration and Gensler's anti-crypto stance, marking Congress's first standalone crypto legislation, with more initiatives anticipated.