Thanksgiving could reshape the crypto landscape
Thanksgiving may bring unexpected news for the crypto market, according to Senator Cynthia Lummis. Speaking at the Wyoming Blockchain Symposium, she revealed that a digital asset market structure bill could land on President Donald Trump’s desk before the holiday. For investors, this could be a pivotal moment as U.S. lawmakers work to define how regulators oversee crypto assets.
Progress in Congress
The Republican strategy is to push the bill through the Senate Banking Committee in September and the Senate Agriculture Committee in October. Both will debate how the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) should regulate crypto markets. This timeline suggests that by late November, the White House may face a historic decision on crypto legislation.
Building on previous laws
The new market structure bill builds on the Digital Asset Market Clarity (CLARITY) Act, which the House passed on July 17 with bipartisan support. The Republicans are eager to continue momentum in the Senate, demonstrating a clear political push to solidify crypto oversight. For traders, this shows Washington is taking crypto regulation seriously and could soon provide long-awaited clarity.
Lummis and her pro-crypto stance
Senator Lummis has long been a leading advocate for crypto. She previously introduced a Bitcoin bill designed to codify Trump’s executive order establishing a strategic Bitcoin reserve. This reserve will hold Bitcoin seized by federal agencies in legal actions. Lummis’s active role highlights how political champions for crypto are influencing legislation that could shape the future of digital assets.
Other legislative developments
Beyond the market structure bill, several other crypto-related initiatives are advancing. On July 17, the House also passed the Anti-Central Bank Digital Currency (CBDC) bill, though with minimal Democratic support. The GENIUS Act, focused on stablecoin regulation, became law on July 18 after Trump signed it. Together, these actions underscore the administration’s aggressive pro-crypto stance.
Why this matters for investors
For crypto investors, these developments carry significant weight. Regulatory clarity has been one of the industry’s biggest obstacles, often leaving markets vulnerable to sudden enforcement actions. If the Thanksgiving timeline holds, U.S. crypto policy could soon shift from uncertainty to structure. This change would not only benefit institutions but also bring confidence to retail traders who often face unclear rules.
Potential impact on the market
The promise of clearer rules could boost institutional participation in crypto, driving fresh capital into the market. On the other hand, stricter oversight may introduce compliance costs for exchanges and platforms. Either way, the passage of a market structure bill would mark a milestone for crypto, potentially reshaping trading conditions heading into 2026.