Lawmakers are expressing optimism about the potential for crypto legislation in the U.S. before the end of the year, particularly during the upcoming lame-duck session after the elections. Key figures, such as Rep. Tom Emmer and Sen. Kirsten Gillibrand, believe that a bill focusing on CFTC oversight for digital commodities could be introduced soon, contingent on Republican electoral success. Conversely, critics like Dennis Kelleher argue that the CFTC is ill-suited for this role due to its limited resources. Meanwhile, House Financial Services Chair Patrick McHenry and Sen. Cynthia Lummis are hopeful that a comprehensive regulatory framework will emerge, possibly attached to critical spending bills. However, past legislative efforts have faced significant hurdles, particularly in the Senate. In a separate development, a select committee in the Cook Islands has recommended withdrawing the controversial Tainted Cryptocurrency Recovery Bill 2023 from Parliament.