Senator Lummis Pushes Crypto Market Bill to Trump by Thanksgiving 2025

Senator Cynthia Lummis has accelerated efforts to finalize U.S. legislation governing the structure of the digital asset market, aiming to have it reach the desk of President Donald Trump before Thanksgiving in 2025. Speaking at the SALT Wyoming Blockchain Symposium on August 20, Lummis confirmed that the bill is on track for passage this year, with a preference for an earlier Thanksgiving deadline. “We will have market structure to the president’s desk before the end of the year,” Lummis stated, emphasizing the importance of regulatory clarity for the crypto industry [1][2].

The proposed bill, developed in collaboration with Sen. Bill Hagerty (R-TN), Sen. Bernie Moreno (R-OH), and Senate Banking Committee Chair Tim Scott, aims to establish clear distinctions between digital asset securities and commodities, modernize the regulatory framework, and reinforce consumer protections. Lummis described the initiative as a “thoughtful, balanced approach” designed to support innovation while curbing regulatory uncertainty [3]. The bill is expected to move through the Senate Banking Committee next month, followed by the Senate Agriculture Committee in October [4].

Senate Banking Committee Chair Tim Scott has also expressed optimism about the bill’s prospects, estimating that at least 12 out of 18 Democrats may be open to supporting the legislation. However, he acknowledged that opposition from prominent Democratic figures, including Sen. Elizabeth Warren, could pose challenges. “The forces against it... are a real force to overcome,” Scott said, highlighting potential hurdles to bipartisan consensus [5].

Lummis has emphasized the urgency of the issue, noting that continued regulatory ambiguity risks driving U.S. innovation overseas. The legislation is seen as a critical step toward positioning the United States as a global leader in digital asset innovation. By establishing clear market structures and oversight mechanisms, the bill seeks to create a stable environment for investors and market participants [6].

Market observers have noted that the Thanksgiving timeline is ambitious but not unrealistic, given the current political landscape. If the bill meets this target, it could serve as a foundational piece of U.S. crypto policy, influencing future regulatory developments and market dynamics. While some analysts have expressed cautious optimism, they have also highlighted that unexpected political developments or shifting priorities could impact the timeline [7].

Lummis’ push for an expedited legislative process reflects a broader effort by U.S. lawmakers to define the role of digital assets in the financial system. The bill is expected to incorporate input from a range of stakeholders, including regulators, industry participants, and consumer advocates. The final framework is intended to ensure U.S. competitiveness in the global digital asset landscape while maintaining financial stability and investor protection [8].

Source:

[1] Senator Cynthia Lummis Eyes Thanksgiving Crypto Bill (https://cryptonews.com/news/senator-lummis-eyes-thanksgiving-deadline-for-crypto-market-structure-bill/)

[2] Senator Cynthia Lummis Vows to Deliver Crypto Market (https://coincentral.com/senator-cynthia-lummis-vows-to-deliver-crypto-market-structure-bill-to-donald-trump-before-2026/)

[3] Senator Lummis Targets Year-End Approval for Crypto (https://www.mexc.com/fa-IR/news/senator-lummis-targets-year-end-approval-for-crypto-market-structure-law/68203)

[4] LIVE Crypto News Today Latest Updates for August 21 2025 (https://cryptonews.com/news/live-crypto-news-today-latest-updates-for-august-21-2025/)

[5] Senator Cynthia Lummis Sets Eyes on Year-End Deadline (https://coincodecap.com/senator-cynthia-lummis-sets-eyes-on-year-end-deadline-for-digital-asset-market-structure-bill)

[6] Fed Officials Indicate Interest Rates at Neutral Level (https://m.economictimes.com/crypto-news-today-live-20-aug-2025/liveblog/123393863.cms)

[7] Bitcoin and Ether ETFs Record US$1.3 Billion in Outflows (https://investingnews.com/cryptocurrency-market-recap/)

[8] AnchorSwap token price - ANCHOR crypto (https://www.coinlive.com/coin/anchorswap)