U.S. Crypto Bill Gains Momentum Amid Bipartisan Push for 2025 Passage

Congress is moving toward finalizing a landmark piece of legislation intended to regulate the rapidly evolving digital assets market. Senator Cynthia Lummis (R-WY), a leading figure in the effort, has indicated that the Senate is expected to pass the bill before the end of 2025, following a largely bipartisan push to establish a clearer legal framework for cryptocurrencies [1]. The bill, referred to in the House as the CLARITY Act and in the Senate as a broader market structure bill, aims to provide regulatory clarity and stimulate institutional investment in digital assets [2].

The House version of the bill, the CLARITY Act, passed in July 2025 with support from 78 Democrats, indicating a strong bipartisan consensus [1]. In the Senate, bipartisan leaders such as Tim Scott and Ted Budd are working to secure enough votes to meet a potential September deadline. Scott noted that at least 12 Democrats are open to supporting the bill, though progressive lawmakers like Elizabeth Warren remain critical of its provisions [1][2]. Lummis has emphasized the importance of balancing innovation with security, stating that the legislation seeks to prevent illicit activities while supporting economic growth [1].

The passage of the bill could significantly alter the regulatory landscape for digital assets. The CLARITY Act proposes expanding the authority of the Commodity Futures Trading Commission (CFTC) over crypto trading, reinforcing a framework that differentiates between digital commodities and securities [2]. This shift could affect how the SEC and CFTC interact with the market, influencing protocols and investor behavior. Notably, the SEC recently clarified that liquid staking tokens are not considered securities, a move that appears to align with the broader regulatory direction outlined in the legislation [3].

In parallel, the President’s Working Group on Digital Asset Markets has released a comprehensive report outlining a forward-looking regulatory strategy for the U.S. digital asset economy. The report calls for consistent rules that support innovation while protecting consumers and preventing financial crimes [4]. It also recommends modernizing bank regulations for digital assets and reinforcing the role of the U.S. dollar in the digital economy.

Simultaneously, enforcement actions are shaping the landscape. The U.S. Department of Justice has pursued several high-profile cases involving crypto-related fraud and money laundering, underscoring the government’s commitment to maintaining compliance with existing financial laws [5]. These actions reflect a dual approach of fostering innovation through regulation while ensuring accountability.

The urgency to finalize the bill stems from the need to maintain U.S. leadership in the global digital asset market. Delays could result in innovation shifting to more favorable jurisdictions, potentially disadvantaging U.S. firms and investors [2]. The bill’s success will depend on continued bipartisan support and the ability to address concerns from both industry participants and regulators.

As negotiations continue, the final form of the legislation will likely be shaped by ongoing discussions in the Senate. If passed, the bill will represent a critical step toward establishing a stable and clear regulatory environment for digital assets in the United States [2].

Source:

[1] Lummis Predicts Crypto Market Structure Bill Will Pass This Year - Bloomberg Government News (https://news.bgov.com/bloomberg-government-news/lummis-predicts-crypto-market-structure-bill-will-pass-this-year)

[2] Tim Scott sees at least 12 Democrats open to crypto market ... - POLITICO Pro (https://subscriber.politicopro.com/article/2025/08/tim-scott-sees-at-least-12-democrats-open-to-crypto-market-structure-bill-00514501)

[3] SEC Releases Guidance Stating that Liquid Staking Tokens Are not Securities – 8/5/2025 (https://www.sec.gov)

[4] President’s Working Group on Digital Asset Markets Releases Extensive Report – 7/30/2025 (https://www.treas.gov)

[5] DOJ Files Civil Forfeiture Complaint in Action Related to Alleged Crypto Confidence Scams – 6/18/2025 (https://www.justice.gov)