Share this article
Market Structure Bill Will Be Before President Trump by Thanksgiving, Says Sen. Lummis
The bill will eventually become the law that dictates how financial regulators oversee the market.
Aug 20, 2025, 4:29 p.m.
JACKSON HOLE, Wyo. — U.S. Senator Cynthia Lummis (R-Wyo.) said that a final draft of crypto market structure legislation will be presented to U.S. President Donald Trump before Thanksgiving — notably, some time after Sen. Tim Scott's previous Sept. 30 deadline.
STORY CONTINUES BELOW
“We will have it on the President’s desk before Thanksgiving,” Lummis said during a conversation at the SALT conference in Jackson Hole, Wyoming on Wednesday. She previously said she expected legislation to be done by the end of 2025.
The Senate Banking Committee plans to have the bill passed by the end of September and anticipates the Senate Agriculture Committee, which oversees the Commodity Futures Trading Commission (CFTC) to have looked at it by the end of October, before it will be passed on to President Trump, she said.
“We will have market structure by the end of the year,” Lummis said.
U.S. Senator Tim Scott, the chairman of the Senate Banking Committee, said Tuesday that he anticipates up to 18 Democrats may vote in favor of the Senate's answer to the House's Digital Asset Market Clarity Act.
The bill is one of the most important pieces of legislation as far as the crypto industry goes, given it will define how the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) will oversee the market..
Join the crypto policy conversation Sept. 10 in D.C. — Register now for CoinDesk: Policy & Regulation.
Más para ti
Lo que debes saber:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Más para ti
U.S. Senate's Crypto Market Structure Bill Gets Messy as Calendar Weighs Down
The White House has shut down proposals, and lawmakers are circulating the Democrats' asks in what had been a close negotiation, revealing 11th-hour pressure.
Lo que debes saber:
- Democrats shared a response to Republicans outlining their continuing priorities for a crypto market structure bill, which they said was intended to "reach an agreement and proceed towards a mark-up."
- The document laid out concerns with financial stability, market integrity and public officials' ability to trade and profit off of crypto, echoing concerns laid out in a framework Democrats shared in September.
- The Senate is running out of time in the Congressional calendar to hold a markup hearing — a key step toward progressing the bill — before 2025 ends.
Top Stories
