Senator Cynthia Lummis Predicts Crypto Market Structure Bill Will Become Law by 2026
Wyoming Senator Leads Republican Effort to Pass Digital Asset Legislation in U.S. Senate
August 20, 2025 — Wyoming Senator Cynthia Lummis, a prominent Republican advocate for cryptocurrency regulation, has expressed confidence that a comprehensive crypto market structure bill will reach the President’s desk by the end of this year, potentially becoming law by 2026. Her remarks came during the Wyoming Blockchain Symposium held in Jackson Hole on Wednesday.
Legislative Timeline and Goals
Senator Lummis outlined a strategic timeline for the bill’s progression through the Senate, highlighting key milestones ahead. The legislative plan includes securing passage of the market structure bill through the Senate Banking Committee by the end of September. Following this, the Senate Agriculture Committee is expected to review the legislation in October. These committees play important roles in determining how U.S. financial regulators, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), will oversee digital asset markets.
"We will have market structure to the president’s desk before the end of the year. I hope it’s before Thanksgiving," Lummis stated, emphasizing the urgency and commitment behind these efforts.
Building on the House’s Digital Asset Market Clarity (CLARITY) Act
The Senate Republicans, led by Lummis, intend their legislation—tentatively named the Responsible Financial Innovation Act—to build upon the foundation set by the Digital Asset Market Clarity (CLARITY) Act. The House of Representatives passed this bill in July with broad bipartisan support, including 78 Democrats, signaling growing consensus on the need for clear regulatory frameworks for cryptocurrencies.
“We want to honor as much of the House’s work as we can on CLARITY because they had a robust bipartisan vote, and we don’t want to disrupt that very much,” Lummis explained. “So we’re going to use the CLARITY Act as the base bill. CLARITY will probably end up being what passes, but CLARITY as tweaked by the Senate.”
Her commentary was echoed by Senate Banking Committee Chair Tim Scott of South Carolina, who spoke at the same symposium the previous day. Scott anticipated that between 12 and 18 Senate Democrats might be open to supporting the market structure bill once it is ready for a full Senate vote.
Broader Context: Related Crypto Legislation
The passage of the CLARITY Act in the House was part of a concentrated “crypto week” legislative effort by House Republicans in July. Alongside the CLARITY Act, the House also passed the GENIUS Act to regulate payment stablecoins and the Anti-CBDC (Central Bank Digital Currency) Surveillance State Act.
Notably, the GENIUS Act had already passed the Senate and was signed into law by then-President Donald Trump the day after the House vote. However, the anti-CBDC legislation received minimal support from House Democrats, with only two votes in favor out of 212 members present.
Focus on Market Structure Before CBDC Regulation
Lummis and other Republican senators have indicated their immediate legislative priority is the crypto market structure bill. While there is ongoing discussion about regulating CBDCs, any such legislation is expected to be postponed into 2026 to maintain focus on market structure first.
As the digital asset sector continues to grow and evolve, lawmakers like Senator Lummis are pushing for clear and balanced regulatory frameworks to provide legal certainty for investors, innovators, and regulators alike. With strong bipartisan efforts underway, the United States is poised to establish definitive rules governing cryptocurrency markets in the near future.
Related Topics: Crypto Regulation, Securities and Exchange Commission, Commodity Futures Trading Commission, Digital Assets, Blockchain Legislation, U.S. Senate, Responsible Financial Innovation Act, Digital Asset Market Clarity Act
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