Senator Lummis Aims to Advance Cryptocurrency Market Structure Bill by Year-End

According to BlockBeats, U.S. Senator Cynthia Lummis, known for her pro-cryptocurrency stance and involvement in Bitcoin legislation, plans to push a cryptocurrency market structure bill through by the end of the year. She detailed the plan during the Wyoming Blockchain Seminar, expressing her goal to have the bill on the President's desk by Thanksgiving. Previously, Lummis, along with Bill Hagerty, Bernie Moreno, and Senate Banking Committee Chairman Tim Scott, released a draft of a broader cryptocurrency market structure bill last month. They set a self-imposed deadline of September 30 to make progress within the committee. Meanwhile, the House passed a different market structure bill last month, known as the Digital Asset Market Clarity Act, which differs from the Senate Banking Committee's version. Lummis noted on Wednesday that the Senate's process is currently "quite chaotic." "We believe we will use the House's CLARITY Act as the base bill," Lummis stated. "We will try to retain the amendments related to stablecoins that the House wants to include, as well as the content they added to the CLARITY Act. We aim to respect the work done by the House as much as possible."