Senator Lummis Pushes for Crypto Bill Passage by Year-End

Senator Cynthia Lummis, a key advocate for cryptocurrency in the U.S. Senate, is intensifying efforts to pass a comprehensive digital asset market structure bill before the end of the year. During remarks at the Wyoming Blockchain Seminar on August 21, Lummis confirmed that the goal is to send the legislation to the President’s desk before Thanksgiving, underscoring her commitment to advancing a clear regulatory framework for the crypto industry [1].

The bill, initially outlined as a discussion draft by Lummis, along with Senators Bill Hagerty, Bernie Moreno, and Senate Banking Committee Chairman Tim Scott, is being developed with a self-imposed deadline of September 30 to complete committee work. Meanwhile, the House has already passed its version of the market structure bill, the Digital Asset Market Clarity Act, which Lummis has indicated the Senate may use as a foundation. She emphasized the intent to incorporate the House’s proposed amendments, particularly those related to stablecoins, while maintaining the Senate’s broader regulatory goals [1].

Lummis described the Senate legislative process as “very messy,” reflecting the challenges of navigating partisan dynamics and differing approaches to crypto oversight. Her strategy involves balancing innovation-friendly policies with robust consumer protections, a framework that has garnered support from both Republican and Democratic lawmakers. The Senate’s approach is expected to align closely with the House’s CLARITY Act, which defines regulatory responsibilities and market structure for digital assets [1].

Industry groups have closely watched Lummis’s efforts, viewing her as a critical ally in shaping a supportive regulatory environment. Advocacy organizations have also called for a crypto-friendly leadership at the Commodity Futures Trading Commission, highlighting the need for consistent policy across all branches of government [2].

Despite bipartisan backing, Lummis has faced resistance from hard-line conservatives who have delayed procedural votes on crypto-related measures. However, she remains confident that the bill can overcome these obstacles, particularly as political and regulatory momentum continues to build. The administration has shown interest in promoting financial innovation, which could further facilitate the bill’s progress [3].

If passed, the legislation is expected to establish a clearer legal and regulatory landscape for digital assets in the U.S., reducing uncertainty for businesses, investors, and regulators. It could also position the U.S. as a global leader in crypto innovation, attracting investment and fostering technological development [2].

With a self-imposed deadline approaching and procedural hurdles yet to be cleared, Lummis’s ability to secure final passage by year-end will depend on continued collaboration across party lines and regulatory alignment. Investors and industry stakeholders are watching closely, as the outcome of this legislative push could shape the future trajectory of the U.S. crypto market.

Source:

[1] title1.............................(https://www.theblockbeats.info/en/flash/308326)

[2] title2.............................(https://www.standwithcrypto.org/politicians/person/cynthia---lummis)

[3] title3.............................(https://www.msn.com/en-us/news/politics/hard-line-conservatives-tank-procedural-vote-over-crypto-bills-in-house-floor-revolt/ar-AA1IFx51?apiversion=v2&batchservertelemetry=1&domshim=1&noservercache=1&noservertelemetry=1&renderwebcomponents=1&wcseo=1)