WASHINGTON—Senator Cynthia Lummis, one of the strongest advocates for cryptocurrency in the U.S. Senate, is intensifying efforts to pass a comprehensive market structure bill before year-end, AInvest reported.
Speaking at the Wyoming Blockchain Seminar, Lummis said the goal is to send the legislation to the President’s desk before Thanksgiving, highlighting her push for a clear regulatory framework for digital assets.
The bill, initially outlined as a discussion draft by Lummis and co-sponsored by Senators Bill Hagerty, Bernie Moreno, and Senate Banking Committee Chairman Tim Scott, carries a self-imposed Sept. 30 deadline to complete committee work. Meanwhile, the House has already passed its version—the Digital Asset Market Clarity Act—which Lummis suggested the Senate may use as a foundation. She noted the intent to incorporate House amendments on stablecoins while maintaining the Senate’s broader regulatory objectives, AInvest reported.
Acknowledging the process as “very messy,” Lummis pointed to the challenges of navigating partisan divisions and differing views on crypto oversight. Her approach seeks to balance innovation with strong consumer protections, a framework that has attracted bipartisan support. The Senate’s plan is expected to track closely with the House’s CLARITY Act, which defines regulatory responsibilities and establishes a market structure for digital assets, AInvest noted.