Investment bank TD Cowen analysts pointed out that the highly anticipated cryptocurrency regulatory legislation may not pass before the August recess due to a packed congressional schedule and disagreements between both parties on key provisions. The analysis report shows that if lawmakers fail to reach consensus during the summer, the legislation's progress could stall and face the risk of being postponed until 2027 after the new Congress takes office. Currently, the House and Senate still face lengthy negotiation periods on core issues including stablecoin regulatory authority, investor protection standards, and the division of responsibilities between the SEC and CFTC. (TheBlock)