Wyoming senator Cynthia Lummis said that she expects Congress to adopt two stablecoin cryptography laws and the market structure “before the end of this calendar year”.
Speaking during the Bitcoin Policy Summit in Washington, DC, Wednesday, Lummis discussed the progression of the Clarity of the Digital Market or the Clarity Act, in the House of Representatives and the Act on the stable guidance and establishment of national innovation, or Genius Act, in the Senate.
Lummis said that it would be “extremely disappointed” if the two bills did not go through congress by 2026.
Lummis chairs the subcommittee of digital assets of the Senate banking committee, which held an audience on Tuesday to discuss the legislation on the structure of the cryptographic market. The Wyoming senator has recognized the challenges of obtaining bipartite support for any bill linked to the crypto concerning “the concern that certain people who have family members in the administration will be advantageous in one way or another by what we do”.
“I do not want to propose legislation in which the other side of the alley considers that they did not have an adequate contribution,” said Lummis at the hearing on Tuesday.
While some Democrats have taken place on the side of the Republicans such as Lummis to vote for Crypto bills, including the Act on Engineering – 18 Democrats constituted the 68 “yes” votes for legislation on June 17 – others have suggested that they will not support any legislation without first approaching the involvement of the American president Donald Trump in the crypto space and the possible implications for personal purposes.
The president has published his own range of same, has a participation in his World Financial in the world of cryptographic business backed by the family and has received political donations from the leaders of digital asset companies.
In relation: While the Stablecoin bill heads for the house, the Senate goes to the market structure
Battle to adopt crypto bills in the house
Lummis’s declared objective to have the two bills by 2026 suggested a subsequent calendar that what Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, in May.
Hines hypothesized that the law on genius could be ready before the recess of the congress in August. Trump said on June 18 that he would be willing to sign the bill with “no supplements” of the house if that were to pass quickly.
Republicans with a thin majority in the Chamber, the market structure and the bills on stables would likely need at least a democratic support to adopt.
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