According to @EleanorTerrett, Sen. Cynthia Lummis of Wyoming announced she will not run for reelection and will leave office on January 3, 2027, making crypto market structure legislation her final focus in Congress. Source: Eleanor Terrett on X, Dec 19, 2025. Lummis co-authored the bipartisan Lummis–Gillibrand Responsible Financial Innovation Act, which proposes clarifying digital asset market structure and CFTC–SEC jurisdiction, a framework that traders are watching for potential advancement before the end of her term. Source: U.S. Senate press release by Sens. Lummis and Gillibrand, July 12, 2023; Congress.gov bill summary for the Responsible Financial Innovation Act. Momentum from the House passage of the FIT21 market structure bill in May 2024 increases the likelihood of Senate action this Congress, making committee hearings and markups potential volatility catalysts for BTC and ETH. Source: U.S. House Clerk roll call on FIT21, May 22, 2024; Reuters, May 22, 2024. Policy clarity has historically coincided with higher crypto volumes and price responses, as seen after the SEC approved spot Bitcoin ETFs on January 10, 2024, which was followed by elevated trading and a price jump in BTC. Source: SEC Order approving spot Bitcoin ETFs, Jan 10, 2024; Reuters, Jan 11, 2024.

According to @WatcherGuru, top U.S. bank CEOs are set to meet with Senators to discuss crypto market structure legislation, signaling potential progress on jurisdiction, custody, and market access rules relevant to digital assets (source: @WatcherGuru, Dec 8, 2025). Traders should monitor the U.S. Senate Committee on Banking, Housing, and Urban Affairs calendar for official confirmation and agendas to time headline risk and liquidity positioning (source: U.S. Senate Committee on Banking, Housing, and Urban Affairs). Key points to track include the CFTC–SEC jurisdiction split outlined in the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the U.S. House in 2024 and frames token classification and exchange registration pathways that influence U.S. market access for BTC and ETH (source: U.S. Congress, H.R. 4763 FIT21). Bank participation indicates focus on regulated crypto custody and integration with broker-dealers and payment rails, areas previously guided by OCC interpretive letters that set conditions for banks’ digital-asset activities (source: Office of the Comptroller of the Currency, Interpretive Letters 1170, 1172, 1179). For positioning, set alerts for committee notices and potential post-meeting statements from banks, and watch U.S. trading hours for shifts in crypto exchange liquidity and derivatives basis if policy specifics emerge (source: U.S. Senate Committee on Banking, Housing, and Urban Affairs; major U.S. bank investor relations updates).

According to @cryptorover, Donald Trump said "I will sign crypto legislation," indicating support for advancing U.S. crypto policy if such bills reach his desk, source: Crypto Rover on X (Nov 9, 2025). Active legislation includes the Financial Innovation and Technology for the 21st Century Act (H.R. 4763, FIT21), which passed the U.S. House on May 22, 2024 and awaits Senate consideration, source: U.S. House of Representatives, H.R. 4763 roll call (May 22, 2024). The House Financial Services Committee has negotiated federal-state payment stablecoin legislation through 2023–2024 that would establish issuer standards and supervision, source: U.S. House Financial Services Committee stablecoin draft materials and hearings (2023–2024). Congress approved a resolution to overturn SEC Staff Accounting Bulletin No. 121 in 2024, but President Biden vetoed it on May 31, 2024; SAB 121 therefore remains in effect for crypto custody accounting, source: White House Veto Message on H.J.Res. 109 (May 31, 2024) and SEC Staff Accounting Bulletin No. 121 (March 2022). For traders, FIT21 would expand CFTC jurisdiction over digital commodities while preserving SEC oversight of digital asset securities, a structural shift that can alter token classification, exchange listing standards, and compliance costs for BTC, ETH and altcoins, source: U.S. House of Representatives summary of H.R. 4763 (FIT21). A federal stablecoin framework would formalize issuer licensing and reserve requirements, directly affecting USD liquidity rails and market depth in USDC/USDT pairs across U.S.-facing venues, source: U.S. House Financial Services Committee stablecoin draft framework (2023–2024). If a future administration signs crypto legislation aligned with FIT21 or a stablecoin regime, U.S. policy risk premia and liquidity conditions for BTC and ETH could reprice around Senate progress and implementation timelines, source: U.S. legislative status of H.R. 4763 and House Financial Services Committee stablecoin work (2023–2024).