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During the panel discussion, both Lummis and Scott addressed the challenging legislative environment in Washington. Lummis emphasized that while getting legislation passed is often significantly harder than blocking it, there exists a pressing need for clarity and structured guidelines in the rapidly evolving cryptocurrency market.
Senator Scott cautiously noted the prospects of bipartisan efforts post-election, especially in light of several retiring members, which could create openings for new leadership and innovative regulatory frameworks surrounding digital assets. He also pointed out the necessity of focusing on the Commodity Futures Trading Commission (CFTC) rather than the Securities and Exchange Commission (SEC), due to the latter's tougher stance and regulatory uncertainty.