Lummis Sets Aggressive Timeline
Senator Cynthia Lummis of Wyoming, one of the most vocal Republican advocates for digital asset regulation, declared this week that a crypto market structure bill will be law by 2026. Speaking at the Wyoming Blockchain Symposium in Jackson Hole, she emphasized that the Senate is moving quickly to match the House’s progress on legislation.
The remarks underscore the urgency Republicans feel in advancing a comprehensive regulatory framework for cryptocurrencies, with Senate committees already preparing to examine key aspects of oversight.
Senate Committees to Tackle Market Oversight
According to Lummis, the plan involves the Senate Banking Committee addressing the bill by late September, followed by the Senate Agriculture Committee in October. Both panels will weigh in on how the SEC and CFTC should divide regulatory authority over digital assets—an issue that has long fueled disputes between lawmakers and industry players.
The strategy builds upon momentum in the House, which passed the Digital Asset Market Clarity (CLARITY) Act in July with bipartisan support, including 78 Democratic votes. Lummis stressed that the Senate version, tentatively named the Responsible Financial Innovation Act, will “build on” the CLARITY Act rather than rewrite it entirely.
Growing Bipartisan Momentum
Her comments echoed those of Senate Banking Committee Chair Tim Scott, who also spoke at the Wyoming event. Scott suggested that between 12 and 18 Senate Democrats may be willing to support the legislation once it reaches the floor for a vote.
This potential coalition signals that despite ongoing political divides, crypto regulation is becoming one of the rare issues where bipartisan cooperation could deliver meaningful results.
The framework could finally give digital asset companies long-sought legal clarity, while also empowering regulators to enforce standards around custody, exchanges, and token classifications.
Beyond Market Structure: Stablecoins and CBDCs
The CLARITY Act was one of three major crypto bills passed by the House in July during what Republicans dubbed “crypto week.” Alongside the market structure bill, lawmakers also approved the GENIUS Act, which establishes guardrails for payment stablecoins, and the Anti-CBDC Surveillance State Act, aimed at blocking the creation of a federal central bank digital currency.
President Trump quickly signed the GENIUS Act into law, but the CBDC-focused measure drew little Democratic support, with only two votes in favor. Lummis indicated that while stablecoins are already moving forward, CBDC legislation may be pushed into 2026 as the Senate prioritizes market structure first.
Toward a 2026 Crypto Framework
If passed, the market structure bill would represent the first comprehensive U.S. crypto regulation, setting rules that could reshape how exchanges, issuers, and investors interact in the digital economy.
For Lummis, who has long positioned Wyoming as America’s blockchain pioneer, this moment feels like the culmination of years of groundwork. As she told the audience in Jackson Hole, the Senate is ready to make history. “This is the time for clarity, and we’re going to deliver it,” she said.
With the White House signaling openness and growing bipartisan support, crypto’s long wait for a regulatory foundation may soon be over.