At the inaugural meeting of the U.S. Senate Banking Subcommittee on Digital Assets on Wednesday, Senator Cynthia Lummis said the bipartisan group of lawmakers who support cryptocurrencies aims to pass a comprehensive framework for the industry by the end of the year. This is months later than the timeline previously announced by Republican policymakers to advance structural reforms of key cryptocurrency markets through Congress. "Many members of the Senate are still trying to understand what bitcoin is, what digital assets are, what stablecoins are," Mr. Loomis told the meeting. "I hope we can get... legislation to President Trump for signature this year."