Key Takeaways:Senator Cynthia Lummis expects the CLARITY Act and GENIUS Act to pass by the end of 2026.The legislation focuses on stablecoins and crypto market structure.Political friction and Trump’s crypto ties may delay bipartisan progress in Congress.U.S. Senator Cynthia Lummis has set a goal for Congress to pass two major cryptocurrency bills—the CLARITY Act and GENIUS Act—by the end of 2026, adding momentum to the push for clearer digital asset regulation in the United States.Speaking at the Bitcoin Policy Summit in Washington, the Wyoming Republican said she expects both pieces of legislation to be on the president’s desk before year-end, though she acknowledged that political hurdles could slow the process.“I’ll be extremely disappointed if we don’t get them through Congress by 2026,” Lummis said.Lummis, who leads the Senate Banking Committee’s Digital Assets Subcommittee, emphasized the importance of bipartisan cooperation, especially in light of Democratic concerns over potential conflicts of interest tied to President Donald Trump’s crypto involvement.What Are the CLARITY and GENIUS Acts?CLARITY Act: Focuses on defining digital asset market structure, aiming to provide legal certainty for crypto trading platforms and token classification.GENIUS Act: Establishes a national framework for U.S. stablecoins, outlining oversight, backing requirements, and consumer protection standards.The GENIUS Act passed the Senate in June with 68 votes, including support from 18 Democrats, signaling some bipartisan willingness to advance stablecoin legislation.Political Tensions and Trump’s Crypto PresenceLummis acknowledged skepticism among Democrats over Trump’s growing role in the crypto industry. The president has:Launched a personal line of memecoins,Invested in World Liberty Financial, a family-backed crypto company,Accepted campaign donations from crypto executives.These entanglements have raised concerns over conflicts of interest in any legislation that might benefit Trump-affiliated projects.“I don’t want to come up with a piece of legislation that the other side of the aisle feels they haven’t had adequate input in,” Lummis said during a Senate hearing on Tuesday.Timeline Uncertainty: Could It Pass Before 2026?Lummis' timeline is longer than earlier estimates. In May, Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said the GENIUS Act could pass before Congress’ August recess.President Trump also recently said he would sign the GENIUS Act “with no add-ons” if the House advances the bill quickly.However, with Republicans holding only a slim majority in the House, Democratic support remains critical. Without it, both the CLARITY and GENIUS Acts risk being delayed well into the 2026 legislative session, according to Cointelegraph.
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