Senator Lummis Indicates Cryptocurrency Market Regulation Bill Nearing Approval

The U.S. Senate is nearing the passing of a bipartisan legislation on cryptocurrency market structure, as indicated by Wyoming Senator Cynthia Lummis. The bill, expected to progress to Senate deliberations soon, will establish a digital commodities framework under the Commodity Futures Trading Commission (CFTC) and treat crypto assets like Bitcoin and Ether as commodities by default. It will limit the Securities and Exchange Commission's (SEC) role to regulating actual securities and introduces protections for developers of non-custodial infrastructure. Despite optimism about the bill's passage, analysts warn of potential political obstacles and predict its final passage might be delayed until 2027. Blockchain betting platform Kalshi predicts a 74% probability of the legislation becoming law by year-end.