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Senator Cynthia Lummis Says U.S. Market Structure Will Be Finalized in 2025

Senator Cynthia Lummis Says U.S. Market Structure Will Be Finalized in 2025

Senator Cynthia Lummis and Senate allies aim to advance digital asset market structure legislation through key committees, targeting passage before Thanksgiving despite Democratic opposition.

Fact Check
Multiple credible sources, including official press releases from the U.S. Senate Banking Committee and news reports, corroborate that Senator Lummis and her colleagues have publicly stated a goal to complete or deliver market structure legislation by the end of September 2025. The evidence is consistent and directly supports the statement's claim.
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Summary

Senator Cynthia Lummis announced that crypto market structure legislation is expected to reach the president’s desk before the end of 2025, with a goal of passing it before Thanksgiving. Speaking at the SALT Wyoming Blockchain Symposium, Lummis emphasized advancing the bill through the Senate Banking Committee in September and the Agriculture Committee in October. The draft legislation, co-authored with Senators Bill Hagerty, Bernie Moreno, and Tim Scott, aims to distinguish between securities and commodities, strengthen consumer protections, and modernize digital asset regulations. While Scott predicted that up to 12 Democrats could support the bill, resistance led by Senator Elizabeth Warren remains a significant challenge.

Terms & Concepts
  • Market Structure Legislation: Proposed U.S. law that seeks to define regulatory boundaries for digital asset securities and commodities while ensuring consumer protections.
  • Digital Asset Securities: Crypto assets that may fall under securities regulation depending on their structure and investor protections.
  • Commodities: Assets, including certain digital assets, regulated by the CFTC rather than the SEC under U.S. law.