Senator Lummis Targets Year-End Approval for Crypto Market Structure Law

TLDR

• Senator Cynthia Lummis confirmed that Congress will complete the crypto market structure bill by the end of this year.
• The Senate Banking Committee will begin marking up the legislation in September and aims to finish its work that month.
• The Agriculture Committee is expected to move its portion of the bill in October to keep the process on track.
• Lawmakers plan to deliver the final bill to the President before year-end with Thanksgiving as the target timeline.
• The legislation will balance innovation and accountability and provide consumer protections and regulatory certainty for digital assets.

Congressional leaders are preparing to move forward on the crypto market structure bill, with Senator Cynthia Lummis confirming action this fall. She pledged that the legislation will advance through committees in September and October and reach the President this year. Her statement came during the Wyoming Blockchain Summit attended by regulators and industry leaders.

Senate Banking and Agriculture Committees to Lead Action

Senator Lummis stated that the Senate Banking Committee will mark up the crypto market structure bill after the chamber reconvenes on September 3. She said the committee expects to complete its work before the end of that month, ensuring timely progress. “We are committed to getting market structure done this year,” Lummis told participants.

She also confirmed that the Agriculture Committee, which oversees the Commodity Futures Trading Commission, will move its portion of the bill in October. According to her, the committees are coordinating closely to maintain momentum. Lummis emphasized that both efforts will combine into a unified bill for floor consideration.

The senator explained that lawmakers intend to send a final crypto market structure bill to the President before year-end. She noted that Thanksgiving remains the target timeline for completion. Therefore, industry groups now anticipate long-awaited regulatory clarity.

Federal Reserve Officials Stress Stablecoins and Technology

Federal Reserve Vice Chair Michelle Bowman described digital assets as driving a “seismic shift” in how money and value are defined. Her remarks highlighted the increasing significance of blockchain and digital payment systems in the broader economy. She also noted that innovation is reshaping the relationship between finance and technology.

Governor Christopher Waller pointed to stablecoins, digital wallets, and artificial intelligence as redefining money flows across the economy. He explained that these developments are influencing payments innovation and transforming financial infrastructure. Waller further stressed that stablecoins can enhance both retail and cross-border transfers.

Waller added that stablecoins have evolved beyond trading assets and now represent a potential boost to the dollar’s global position. He emphasized their benefits, particularly in enabling quick, secure transactions. Consequently, stablecoins are expected to feature prominently in the crypto market structure bill.

Summit Signals Mainstream Focus on Digital Assets

The Wyoming Blockchain Summit attracted senior policymakers, including SEC chair Paul Atkins and Senator Tim Scott. Backed by major industry players, the gathering underscored the integration of crypto into national financial debates. Speakers consistently emphasized innovation alongside accountability and consumer protection.

The summit demonstrated bipartisan recognition of the importance of digital assets within financial policy. Lummis and her colleagues now face the task of finalizing comprehensive legislation. The crypto market structure bill is positioned to become a cornerstone of U.S. digital asset regulation.

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