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Cynthia Lummis Aims for Thanksgiving Deadline for U.S. Cryptocurrency Market Framework Legislation
Sen. Cynthia Lummis (R-WY) aims to have legislation regarding crypto market structure ready for approval by the end of the year, the Republican representative stated on Wednesday.
Sen. Cynthia Lummis Sets Thanksgiving Target
During her address at the SALT Wyoming Blockchain Symposium 2025 on August 20, Lummis asserted that Congress “will complete market structure [legislation] this year.”
“We will deliver market structure to the president’s desk before the year concludes,” Lummis remarked. “I hope it’s prior to Thanksgiving. That’s our objective.”
Lummis expressed her desire for the significant crypto legislation to progress through the Senate Banking Committee next month before moving to the Senate Agriculture Committee in October.
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The announcement of Lummis’ timeline follows just a month after she, Sen. Bill Hagerty (R-TN), Sen. Bernie Moreno (R-OH), and Senate Banking Committee Chair Tim Scott revealed a discussion draft concerning digital asset market structure legislation.
“This discussion draft embodies a thoughtful, balanced strategy that will offer the clarity our innovators require while ensuring strong consumer protections,” Lummis stated in a July announcement. “We cannot permit regulatory ambiguity to continue pushing American innovation abroad.”
“Market structure legislation will create clear distinctions between digital asset securities and commodities, modernize our regulatory framework, and establish the United States as the global leader in digital asset innovation,” she continued.
While speaking at SALT on Tuesday, Scott anticipated that 12 out of 18 Democrats would support the crypto market structure bill.
“I believe that we’ll have at least 12 and 18 Democrats at least open to voting for market structure,” Scott noted.
Nonetheless, significant figures within the Democratic Party who oppose the legislation may pose obstacles to the bill’s progress.
“The forces against it, let me just say clearly, like Senator Elizabeth Warren, standing in the way of Democrats wanting to participate, it is a real force to overcome,” Scott remarked.
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