Policy, Cynthia Lummis, Market Structure Legislation, News The bill will eventually become the law that dictates how financial regulators oversee the market.
JACKSON HOLE, Wyo. — U.S. Senator Cynthia Lummis (R-Wyo.) said that a final draft of crypto market structure legislation will be presented to U.S. President Donald Trump before Thanksgiving — notably, some time after Sen. Tim Scott’s previous Sept. 30 deadline.
“We will have it on the President’s desk before Thanksgiving,” Lummis said during a conversation at the SALT conference in Jackson Hole, Wyoming on Wednesday. She previously said she expected legislation to be done by the end of 2025.
The Senate Banking Committee plans to have the bill passed by the end of September and anticipates the Senate Agriculture Committee, which oversees the Commodity Futures Trading Commission (CFTC) to have looked at it by the end of October, before it will be passed on to President Trump, she said.
“We will have market structure by the end of the year,” Lummis said.
U.S. Senator Tim Scott, the chairman of the Senate Banking Committee, said Tuesday that he anticipates up to 18 Democrats may vote in favor of the Senate’s answer to the House’s Digital Asset Market Clarity Act.
The bill is one of the most important pieces of legislation as far as the crypto industry goes, given it will define how the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) will oversee the market..
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