Lummis Crypto Bill Moves Ahead With New Draft This Week

Senator Cynthia Lummis plans to release a new draft of her crypto market structure bill before the end of this week. She wants the crypto industry and lawmakers from both parties to read it before the markup session next week. The update comes after months of long discussions and many rewrites.

A Push to Finish Before the Holidays

Lummis spoke at the Blockchain Association Policy Summit earlier this week. She explained that her team has worked hard on this draft. Her staff and the committee members kept changing the bill almost every few days. These constant edits slowed the process and created pressure from the industry, which is hoping for clear rules soon.

She now wants to share a “best effort” draft. This will give people enough time to read it and offer feedback before the markup. A markup is when lawmakers suggest changes and vote on the bill’s wording. The goal is to complete this step before Congress begins its holiday break.

What the Bill Tries to Solve

The bill aims to clarify how digital assets should be regulated in the United States. This includes defining whether a token is a security or a commodity. It also explains how crypto firms should operate and which agency, the SEC or the CFTC, should oversee them.

The House already passed an early version of a similar bill called the Digital Asset Market Clarity Act. Lummis’ draft builds on that work and tries to bring stronger structure. Many crypto companies welcome this effort. They believe clear rules will protect users, attract new investors, and help the industry grow in a stable way.

Why This Crypto Bill Matters

Lawmakers want to move quickly. Time is short before the year ends, and the crypto sector is pushing for clarity. Lummis has said that, if things go well, the bill could become law by 2026. There are still challenges ahead, including agreement between parties and approval in the full Senate.

What Happens Next in the Crypto World

People in the crypto world are watching for the draft. They want to know how the bill defines digital assets and what rules it sets for exchanges and platforms. Lawmakers will review every detail next week during the markup. Their decisions could shape how crypto fits into the U.S. financial system for years to come.

If Lummis succeeds in moving the bill forward, it may become one of the most important steps toward long-term crypto regulation in the country.