Senator Lummis Aims to Get Crypto Bill to Trump Before Turkey Time! 🦃💰

Well, it looks like Senator Cynthia Lummis, a champion of all things crypto, has got a new plan brewing! She’s working hard, and I mean really hard, to rush a little something called the Market Structure Bill through the halls of Congress. The goal? Get it to President Trump’s desk just in time for Thanksgiving. 🦃 Talk about fast tracking-no stuffing involved here!

And that’s not all! This bill is just one player in a larger game of regulatory chess. There’s already been a handful of new laws passed-like the GENIUS Act (oh, they went there), the CLARITY Act, and even some Anti-CBDC bills. All of this, you guessed it, is designed to shape the future of digital assets in the good ol’ U.S. of A. Who knew regulating money could be so much fun?

What’s Cooking in the Responsible Financial Innovation Act? 🍳

Hot off the press, the House of Representatives has already passed a few major crypto bills. Now, it’s the Senate’s turn, with the Banking Committee cooking up its version of a shiny new framework to keep the crypto world in check. Senator Tim Scott, along with Senators Lummis, Bill Hagerty, and Bernie Moreno, are leading the charge on the “Responsible Financial Innovation Act of 2025”-catchy, right?

So, what’s in this masterpiece? Well, it promises to provide some clarity (a very generous gift to anyone trying to make sense of crypto) and address the usual risks that come with this wild west of digital assets. Think of it as the ‘responsible’ approach to letting innovation run wild, but with a seatbelt on.

The Senate bill, fresh from the kitchen, builds on the Clarity Act, which gave the Commodity Futures Trading Commission (CFTC) some power over the digital asset world. This new bill, however, decides the SEC should be the head honcho for “ancillary assets.” And here’s the twist: these assets? Not securities. So don’t even try to apply federal securities laws. No soup for you, SEC!

But wait, there’s more! SEC Chair Paul Atkins suggests that only a handful of tokens could be classified as securities. So, if you’ve been thinking about launching your own coin, you might just be in the clear. 🍀

Deadline: Thanksgiving. Or Else! ⏰

The clock is ticking, and Senator Lummis is feeling the heat. She’s gunning for that Thanksgiving deadline, declaring with confidence (and maybe a side of mashed potatoes) that the crypto bill will be on the President’s desk before we carve up the turkey. Let’s just hope they don’t have any last-minute ‘amendments’ to deal with. 😅

In addition to fighting crypto crime (because who doesn’t love a good anti-money laundering law?), this bill is also looking at how banks and financial institutions can play nice with crypto. Turns out, big players like Morgan Stanley and Bank of America are warming up to stablecoins as a way to break through traditional payment barriers. So, how will this all fit together? That’s where the legislation swoops in to let banks do their thing-custody, trading, you name it.

In the words of Senator Lummis herself, during a recent pow-wow in Jackson Hole, Wyoming: “We’ll have it on the President’s desk before Thanksgiving.” 🎯 Fingers crossed! 🤞

2025-08-21 10:18

What’s Cooking in the Responsible Financial Innovation Act? 🍳

Deadline: Thanksgiving. Or Else! ⏰

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