Crypto Market Structure Bill Aims for Presidential Approval by Year-End

Wyoming Senator Cynthia Lummis has announced that a comprehensive crypto market structure bill could reach President Donald Trump's desk before the end of 2024. The Republican lawmaker, a staunch advocate for digital assets, revealed the timeline during her address at the Wyoming Blockchain Symposium in Jackson Hole.

The legislative process will see the Senate Banking Committee vote on the bill by September's end, followed by an October review from the Agriculture Committee. This critical examination will focus on delineating regulatory authority between the SEC and CFTC over digital assets.

The Senate's Responsible Financial Innovation Act builds upon the House-approved CLARITY Act, which gained surprising Democratic support in July. Lummis emphasized the Republican commitment to maintaining the bill's current framework without substantial alterations.