Senator Lummis Sets Year-End Target for U.S. Crypto Legislation Completion
Senator Cynthia Lummis indicated that finalizing U.S. crypto regulations could take several more months, potentially beyond the August deadline set by President Trump. The Senate has approved stablecoin legislation, marking a step towards comprehensive crypto regulation.
Key points include:
- Lummis expects all related legislation to be completed by the end of the calendar year.
- A recent hearing addressed market structure legislation amid bipartisan challenges.
- Some Democrats propose restrictions on government officials engaging in crypto businesses, which may complicate negotiations.
- The House passed the Digital Asset Market Clarity Act, but further strategies are needed regarding the stablecoin integration.
- Success in the House must gain significant Democratic support in the Senate for any legislation to advance.