Lummis predicts that the structure of the cryptographic market will pass this year

Senator Cynthia Lummis Said Wednesday that Congress would adopt significant legislation this year establishing market rules for digital assets.

The main Republicans of the Senate published a discussion project on the legislation on the structure of the digital asset market last month, which is intended to rely on the law on the clarity of the Chamber (HR3633) This would establish rules for tokens and cryptographic exchanges.

Lummis, speaking to Wyoming Blockchain Symposium, said that it expects the bill on the structure of the crypto market to move away from the senatorial banking committee by the end of September, then the Senateurial Agriculture Committee will work on its part of the basic products of the bill until October.

“We will have a market structure at the president’s office before the end of the year, I hope that it is before Thanksgiving,” said Lummis (R-Wyo.), Which presides over the very first subcommittee of the Senate banks on digital assets. “We will have a market structure this year.”

President of the Senate Bank Tim Scott (RS.C.) said this week that there were between 12 and 18 democrats in the Chamber open to the vote for the legislation on the structure of the digital asset market, even if it faces the opposition of the best democrat of the Committee. Legislation – which is the key to cryptographic industry because it will explain how the Commission for Securities and Exchanges and the Committee Futures Futures Trading Commission would supervise the market – would need 60 votes to overcome an obstacle to the Senate.

Read more: President of the banks of the Senate Woos Democrats for Crypto Restructure Bill

Lummis said it expects the Senate to use the Clarity Act as a basic bill, then use the amendment of a manager to wrap all the upcoming changes in the banking and agricultural committees of the Senate.