‘We are so close this time‘ — Senator Lummis on market structure bill
The Wyoming Republican said that the main issue holding up passage of the bill was stablecoin yield, while adding that she believed a provision on DeFi had been ”put to bed.”
Update (March 18 at 6:52 pm UTC): This article has been updated to include a response from Cynthia Lummis beginning in the eighth paragraph.
Wyoming Senator Cynthia Lummis, one of the main proponents of a digital asset market structure bill in the US Congress, said that the legislation is getting closer to passage despite “things that [she] did not expect” in 2025.
Speaking at the DC Blockchain Summit hosted by the Digital Chamber on Wednesday, Lummis said she had thought that the crypto industry would already be celebrating a “victory lap” for the market structure bill, which passed the US House of Representatives in July 2025. She said that “the main thing” that had held up the legislation was the fight over stablecoin yield and rewards between banking and crypto industry representatives.