Wyoming Senator Cynthia Lummis, a key advocate for the digital asset market structure bill, is optimistic about its prospects despite unexpected delays in 2026. Speaking at the DC Blockchain Summit on Wednesday, Lummis emphasized that the legislation, which passed the House in July 2025, is now on the verge of a breakthrough.
“We are so close this time,” Lummis told attendees. The senator, who sits on the Senate Banking Committee, explained that the primary obstacle has been the contentious issue of stablecoin yield and rewards, a topic that has pitted the banking and crypto industries against each other.
The Senate Banking Committee, chaired by Tim Scott, indefinitely postponed a January markup on the bill, stalling its progress. However, the Senate Agriculture Committee advanced its version of the bill in January. Lummis noted that both pieces of legislation will need to be reconciled to address issues related to commodities and securities laws.
Despite the setbacks, Lummis remains hopeful. “Some of the people that have been very dug in on the issue of yield versus rewards have been working closely with the White House and our members to come up with a compromise,” she said. “We think we’ve got it.” The White House has held multiple meetings with industry representatives in 2026 to facilitate the process.
Lummis also addressed the impact of the 2026 midterm elections, which will reshape Congress in January 2027. With all 435 House seats and 33 Senate seats up for grabs, the political landscape could shift, potentially affecting the bill’s passage. “This may be our only chance to get market structure done,” Lummis stressed in a Wednesday X post, noting the White House’s support.
Ohio Senator Bernie Moreno echoed Lummis’s urgency, stating, “If we don’t get the CLARITY Act passed by May, digital asset legislation will not pass for the foreseeable future.” Senate Majority Leader John Thune, however, suggested that the banking committee might not act on the bill before April, prioritizing other legislation.
As the clock ticks, the crypto industry and its supporters are rallying to ensure the market structure bill’s passage. The legislation is seen as crucial for providing clarity and regulatory framework for the digital asset sector, fostering innovation and protecting investors. With key stakeholders working towards a compromise, the coming months will be pivotal for the future of crypto regulation in the United States.
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