- Bipartisan effort led by Senator Cynthia Lummis for a crypto market structure bill.
- Key involvement from Senators Tim Scott, Bill Hagerty, and Bernie Moreno.
- Introduction of “ancillary assets” not classified as securities.
Senator Cynthia Lummis targets Thanksgiving 2025 for the U.S. crypto market structure bill, a significant bipartisan effort with Senators Tim Scott, Bill Hagerty, and Bernie Moreno, announced at the Wyoming Blockchain Symposium.
The anticipated bill influences regulatory oversight and asset categorization, affecting Bitcoin and Ethereum, potentially stabilizing market reactions and institutional engagement in the digital asset sector.
Senator Cynthia Lummis is leading a bipartisan effort to deliver a U.S. crypto market structure bill by Thanksgiving 2025. This initiative involves several key members of the Senate, aimed at providing clarity on digital asset regulations.
Senator Cynthia Lummis, U.S. Senator, ‘We will have it on the President’s desk before Thanksgiving.’ – Bloomberg Government
Key figures in this legislative push include Senator Tim Scott, chair of the Senate Banking Committee, alongside co-authors like Senators Bill Hagerty and Bernie Moreno. Their collaboration signifies unified efforts across party lines.
The proposed legislation is expected to impact major cryptocurrencies such as Bitcoin and Ethereum. It also introduces the term “ancillary assets”, which could change regulatory perspectives on various tokens. According to the Senate Banking Committee Discussion Draft Overview, “The Senate bill grants the Securities and Exchange Commission (SEC) primary regulatory oversight over what it terms ‘ancillary assets.’ Notably, the bill specifies that these ancillary assets should not be classified as securities.”
As the bill advances, stakeholders anticipate impacts on the digital asset ecosystem, with potential adjustments in compliance and security protocols.
The bill, building on the House-passed CLARITY Act, reflects substantial bipartisan support. Its provisions aim to refine the regulatory framework governing digital assets. Senator Tim Scott noted, “We are committed to building bipartisan support for regulatory clarity in the digital asset space.”
Insights suggest that redefining assets will stabilize legal interpretations, enhancing investor confidence. Senate Banking Committee Digital Assets Legislation Draft observers expect changes in token reclassification, possibly affecting liquidity and market volatility.
