U.S. Senators Target Year-End Passage for Crypto Market Structure Bill Amid Fiscal Priorities

Key U.S. senators remain optimistic about passing comprehensive cryptocurrency market structure legislation by year-end, despite shifting deadlines and competing congressional priorities. Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) acknowledged the challenges during CoinDesk's Policy and Regulation event, with fiscal budget negotiations currently taking precedence.

The legislative timeline has evolved significantly since initial ambitions for August completion. Senate Banking Committee Chairman Tim Scott's September 30 target now appears likely to be met only for partial progress, with the Agriculture Committee's parallel work extending into October. "I don't want to put an artificial deadline on anything," Gillibrand stated, emphasizing the need for thorough deliberation over rushed timelines.

Lummis, who previously suggested Thanksgiving as a potential milestone, now cautions that even that target might prove ambitious. The Wyoming senator noted the complex intercommittee coordination required, with Banking Committee work expected to conclude by September's end before Agriculture Committee deliberations continue.