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).

According to the source, a person described as White House crypto director, David Sacks, said bipartisan US crypto market structure legislation could pass this year; source: public social media post dated Oct 23, 2025. For traders, prior legislative momentum such as FIT21 passing the US House on May 22, 2024, shows that concrete milestones can become catalysts tracked across BTC, ETH and crypto‑exposed equities like COIN; source: U.S. House Clerk official vote record for H.R. 4763 FIT21. Key verification and timing signals include committee markups and floor scheduling posted on Congress.gov and the House and Senate weekly calendars, which indicate probability of near‑term votes and headline risk windows; source: Congress.gov and official House and Senate schedule pages. Until an official bill text update and calendar placement are posted, this remains an unverified headline and should not be treated as confirmed legislation; source: Congress.gov and chamber calendars.

According to @stocktalkweekly, the United States is advancing comprehensive digital asset legislation, including the FIT21, STABLE, and CLARITY Acts, to establish clear regulatory frameworks. A key piece of legislation, the Senate's GENIUS Act, poses a significant challenge to Tether's (USDT) dominance by imposing strict rules on stablecoin issuers. The bill would require foreign issuers like Tether to be regulated by an approved foreign regime, hold sufficient reserves in a U.S. financial institution, and undergo monthly audits with executive liability, standards which Tether does not currently meet. Legal expert Steve Gannon noted that compliance would be a 'considerable investment' for the company. In response, Tether may choose to focus on non-U.S. markets from its El Salvador headquarters, attempt the complex compliance process, or launch a separate, fully-regulated U.S. stablecoin, an idea floated by CEO Paolo Ardoino. This regulatory pressure could allow competitor Circle (USDC) to capture significant market share, particularly from institutional investors, as it aims for full compliance. Further complicating matters for Tether, the SEC has indicated that appropriate stablecoin reserves should not include precious metals or other crypto assets, which are part of Tether's current holdings.

According to Jake Chervinsky, most market participants expect the Senate to begin its crypto market structure reform from a different legislative foundation—specifically, the Responsible Financial Innovation Act (RFIA) or the Digital Commodities Act (DCA), rather than the recently discussed FIT21 bill (source: Jake Chervinsky on Twitter, May 27, 2025). Chervinsky notes that reconciling new versions of these crypto regulation bills will be highly challenging, and completion before the end of summer is improbable. For crypto traders, this delay in regulatory clarity could prolong market uncertainty, potentially increasing volatility and affecting sentiment across major digital assets.

According to paulgrewal.eth, the Senate is being urged to move forward with debate and pass the FIT21 crypto regulation bill, as the House continues to develop this legislation. The tweet highlights that delays could negatively impact the US cryptocurrency market and investor confidence, with significant implications for regulatory clarity and trading conditions in America. Paul Grewal's call to action underscores the importance of timely policy reform to support market stability and attract institutional investment (source: paulgrewal.eth Twitter, May 6, 2025).