Sen. Cynthia Lummis aims for year-end deadline for crypto bill, backing House’s version

The Block

2025-08-21 00:56:46

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Wyoming Republican Cynthia Lummis has set her sights on passing a cryptocurrency market structure bill by the end of the year, but noted a shift in strategy — that some senators will take up the House's version as its "base bill."

Lummis, a longtime crypto advocate, detailed plans for that bill during a panel on Wednesday at the Wyoming Blockchain Symposium.

"We will have market structure to the President's desk before the end of the year," Lummis said. "I hope it's before Thanksgiving. So that's our goal."

Sens. Lummis, Bill Hagerty, Bernie Moreno, and Senate Banking Committee Chair Tim Scott previously released a discussion draft for a larger crypto market structure last month with a self-imposed deadline of Sept. 30 to get something done in that committee. On a separate track, the full House passed a market structure bill last month, called the Digital Asset Market Clarity Act, which is so far different from the Senate Banking Committee's version.

The Senate is a mess procedurally, Lummis said on Wednesday.

"We think we'll use the House Clarity Act as the base bill," Lummis said. "We use as much of the changes that the House wants to the stablecoin bill and that they put in the Clarity Act. We want to try and keep those so that we honor the House's work."

Lummis also noted Clarity's bipartisan vote — 78 Democrats voted in favor of that bill. A Senate aide told The Block that Sen. Lummis thinks the House did good work on Clarity and wants to keep as much as possible, but noted there would be changes.

"We also 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 said.

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