Senator Lummis Advances Crypto Market Structure Bill Ahead of Holiday Break
Senator Cynthia Lummis confirmed plans to proceed with markup hearings for the Responsible Financial Innovation Act next week, signaling progress on long-awaited digital asset regulations. The Wyoming Republican made the announcement during Tuesday’s Blockchain Association Policy Summit, emphasizing bipartisan collaboration despite legislative fatigue.
Drafts of the bill have undergone repeated revisions in recent weeks, with staff from both parties working through technical and policy disagreements. Lummis acknowledged the exhaustion of her team and Senator Kirsten Gillibrand’s staff, suggesting a final push before Congress adjourns for the holidays.
The proposed legislation represents Congress’s most comprehensive attempt to establish clear rules for cryptocurrency markets. Market participants anticipate provisions addressing custody requirements, stablecoin oversight, and CFTC-SEC jurisdictional boundaries.
