Wyoming Senator Cynthia Lummis stated that she expects Congress to pass two pieces of cryptocurrency legislation related to stablecoins and market structure "before the end of this calendar year."
At the Bitcoin Policy Summit held in Washington, D.C. on Wednesday (June 25), Lummis discussed the progress of the CLARITY Act in the House and the GENIUS Act in the Senate.
Lummis expressed that she would be "very disappointed" if these two bills fail to pass Congress by 2026.
Lummis serves as the chair of the Senate Banking Committee's Digital Assets Subcommittee, which held a hearing on Tuesday (June 24) to discuss cryptocurrency market structure legislation. The Wyoming senator acknowledged that gaining bipartisan support for any crypto-related bill is challenging, as "there are concerns that certain family members of government officials may benefit in some way from our actions."
"I do not want to propose legislation that makes the other party feel they are not fully involved," Lummis said during the hearing on Tuesday.
While some Democrats stand alongside Republicans like Lummis in supporting crypto legislation, including the GENIUS Act—where 18 Democrats participated in the 68 votes in favor on June 17—others have stated they will not support any legislation until the involvement of former President Donald Trump in the crypto space and the potential personal benefits it may bring are addressed.
Trump has issued his own series of meme coins, holds shares in the crypto business World Liberty Financial supported by his family, and has received political donations from executives of digital asset companies.
Lummis's goal of having the two bills ready by 2026 suggests a later timeline than what Bo Hines, the executive director of the President's Digital Asset Advisory Committee, mentioned in May.
Hines speculated that the GENIUS Act might be ready before Congress's August recess. Trump stated on June 18 that he would be willing to sign the bill without "add-ons" from the House if it could pass quickly.
Given that Republicans hold only a slim majority in the House, the market structure and stablecoin bills may require at least some support from Democrats to pass.
Related: Bitcoin (BTC) Enters "Institutional Lockup Era": Bull Market Engine or Market Risk?
Original: “U.S. Senator Cynthia Lummis Sets 2026 Target for Two Crypto Bills”
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