Larry David Tackles Crypto Legislation: “Before the End of the Year… Maybe”

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So, Wyoming Senator Cynthia Lummis, a crypto enthusiast if I’ve ever seen one, says a crypto market structure bill is hitting the desk of Donald Trump “before the end of the year.” 🤷‍♂️ Like, what’s the rush? Does he have plans?

Lummis laid out the grand plan at the Wyoming Blockchain Symposium in Jackson Hole. It’s like a roadmap to nowhere, but hey, at least it’s a plan, right?

The Senate Banking Committee is supposed to pass this thing by the end of September. Then, the Senate Agriculture Committee gets their hands on it in October. 🍂 It’s like passing a hot potato, but slower and more bureaucratic.

They’ll be looking at how the SEC and CFTC will manage these digital assets. Because, you know, nothing says fun like regulatory oversight. 🎉

“We will have market structure to the president’s desk before the end of the year,” Lummis assured everyone. “I hope it’s before Thanksgiving.” 🦃 Like, who doesn’t love a good deadline? Especially when it involves cryptocurrency and government efficiency.

This all comes after the House of Representatives made some moves with the Digital Asset Market Clarity Act, aka the CLARITY Act, which got some bipartisan love. Lummis mentioned that the Senate’s version, the Responsible Financial Innovation Act, will build on the House bill without making too many changes. 🛠️

“We […] want to honor as much of the House’s work as we can on CLARITY because they had a robust bipartisan vote,” she explained. “And we don’t want to disrupt that very much. So we’re going to use the CLARITY Act as the base bill […] CLARITY will probably end up being what passes, but CLARITY as tweaked by the Senate.” 🤔

Senator Tim Scott, the chair of the Senate Banking Committee, chimed in at the event, saying that between 12 and 18 Democrats might be open to voting for the market structure bill. 🙌

During the House’s “crypto week,” they passed the GENIUS Act, which deals with payment stablecoins, and it was signed into law by Trump the next day. 🚀 The Anti-CBDC Surveillance State Act, however, didn’t get as much Democratic support.

Lummis and her Republican buddies are pushing for the market structure bill to come first, while any talk about a central bank digital currency might be pushed back to 2026. 📆 Like, who has time for that now?

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2025-08-20 22:55