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Chuck Schumer says legislation could happen sooner than you think, and soon you'll be able to put yours in

in a tin. This is Coin Desk Daily. I'm your host, Jen Sanassi. Will we see U.S. crypto legislation this

year? Well, Senate Majority Leader Chuck Schumer made an appearance at the Crypto for Harris event,

saying what's been considered a long-shot idea of getting some kind of crypto legislation out this

year could really happen. Schumer said at the online event that Congress has a responsibility

to provide common sense and sound regulation on crypto, and we need your support to make sure that any proposal is bipartisan.

In Harris's absence, several Democratic lawmakers and prominent supporters stood in and shared assurances during the virtual town hall that she would pave the way for new U.S. crypto regulations.

Investment bank Jeffries said in a research report that Bitcoin mining was slightly less profitable in July than the previous month.

This comes as the price of Bitcoin fell over 6% while the network cash rate remained stable.

U.S. listed mining companies produced a larger share of Bitcoin in July than June, accounting for 21.1% of the total network versus 20.7% in May,

according to the report. Looking ahead, August will likely be even more difficult for the miners

as the price of Bitcoin drops while the network hash rate has started to grow again.

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