Crypto Revolution: Lummis Hails US Wake-Up After Legislative Breakthrough

Senator Cynthia Lummis has declared that the United States is “waking up” on crypto, following a week she describes as historic for national digital asset legislation. Last week marked a pivotal shift as key bills advanced in Congress, reflecting momentum that may reshape how digital currencies are regulated and adopted in the country.

In conversation, Lummis stressed that the tide is turning after years where the US trailed global leaders in crypto policy. “We are for the first time taking action that will bring clarity and stability to the crypto space,” she said, urging developers and innovators not to lose hope in the American market.

Lawmakers Set Pace With the GENIUS Act and CLARITY Act

Two legislative milestones are now in the spotlight: the GENIUS Act, focused on payment stablecoins, has already passed the Senate and received the President’s signature. The CLARITY Act awaits a Senate vote after successful progression in the House. These bills aim to define compliance rules, safeguard consumers, ensure reserve backing, and support stablecoin issuers tied to the US dollar.

Lummis and colleagues have spent four years building the market structure bill. She credits bipartisan cooperation for the breakthrough, explaining that reaching across the aisle brought essential amendments and solid votes to push crypto innovation forward in a regulated environment.

She highlighted the role of “ancillary assets” in the bill as vital for distinguishing between securities and commodities. This distinction addresses one of the industry’s most challenging regulatory gray areas, carving out a clearer path for businesses.

Industry Anticipation Builds as Regulatory Clarity Emerges

The legislative wins have triggered a wave of optimism across fintech companies and digital asset developers. “Help is on the way,” said Lummis, reiterating her belief that recent progress signals the start of meaningful change for those building in the American crypto sector.

With the GENIUS Act already law, digital asset companies can expect federal supervision for stablecoins and pathways for innovation under new compliance regimes. The CLARITY Act’s progression is also drawing attention, with lawmakers confirming efforts to align Senate and House versions for a harmonized framework.

Recent statements from the White House reinforce the sense of urgency. According to Lummis, executive support for these crypto measures is robust, with expectations that additional pro-crypto laws could materialize soon.

These actions are designed to maintain US dollar dominance, keep jobs related to digital assets within American borders, and ensure that international companies adhere to US rules. Previous skepticism on the Hill, Lummis acknowledged, is beginning to fade as the practical benefits of clear policy take center stage.