Senator Cynthia LummisThe Market Structure Bill is moving toward a critical markup next month, potentially ending a decade of regulatory uncertainty for the digital assets sector. The Wyoming Republican announced Dec. 19 that she would not seek re-election, but remains committed to advancing legislation alongside recent frameworks from the Federal Reserve and SEC that could reshape crypto banking access and token classification.
What happened: legislative progress
Lummis confirmed on social media on Sunday that his bipartisan digital asset market structure bill would move to markup in January 2026.
“Our Digital Asset Market Structure Bill provides the clarity industry innovators need while protecting consumers,” she wrote.
The senator also highlighted Governor Waller‘s lean main account framework, which it says puts an end to Operation Chokepoint 2.0. David Sacksthe Trump administration’s AI and crypto czar, wrote that congressional leaders are “closer than ever to passing the landmark crypto market structure legislation that President Trump has called for.”
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Why it matters: regulatory clarity
Industry observers say the bill could provide unprecedented regulatory certainty after years of enforcement-based oversight. Merlijn the trader noted that “after a decade of uncertainty, the framework is finally forming.”
President of the SEC Paul Atkins introduced “Project Crypto” in November 2025, establishing a four-part token taxonomy that separates digital products, collectibles, tools, and tokenized securities.
Most tokens not tied to ongoing investment contracts now escape SEC oversight.
The FDIC approved comprehensive insurance for a national crypto bank on December 16, while the Federal Reserve’s Master Account Framework is expected to expand banking access to compliant crypto institutions.
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