US Senator Cynthia Lummis of Wyoming announced that the Senate Banking Committee’s comprehensive bill on the cryptocurrency market structure is aimed to be put on the committee agenda and final vote by the end of April 2026, after Easter. Lummis stated that the previously controversial topics regarding the bill are currently at the resolution stage and details are now being discussed in the negotiations.
Latest Developments and Negotiation Process
Cynthia Lummis has long been working to create a clear legal framework for digital assets in the United States. While negotiations took place for months on the current bill, the vote was postponed in January 2026 after Coinbase withdrew its support due to reservations about decentralized finance (DeFi) and stablecoin revenues. In his last statement, Lummis stated that solutions have been found for these concerns and stated that DeFi-related problems are no longer on the agenda.
The most important technical innovation in the bill emerged regarding stablecoin revenues. According to the new text, the bill will not use banking product terminology and will not offer rewards economically equivalent to traditional deposit returns. This change aims to prevent companies issuing stablecoins from offering interest-bearing products that will directly compete with US insured deposit accounts.
Regulations in the Draft
The regulation in question aims to clarify the boundaries between security (SEC) and commodity (CFTC) definitions in cryptocurrencies. Thus, which regulator will fall under the jurisdiction of digital assets and the content of the legal framework will be determined. This distinction will determine which legal obligations will apply to investors, platforms and brokerage firms.
The bill has currently been approved in the House of Representatives, the lower house of Congress, under the title “Clarity Act”. This bill needs to be combined with the version to be accepted in the Senate, then the final text will be presented to the US President.
Legal Calendar and Election Edition
After a vote in the Senate Banking Committee, the bill is expected to be joined by crypto-related regulations in the Senate Agriculture Committee. The combined text will be presented to the Senate General Assembly and the vote here is intended to be held before the end of 2026. Afterwards, a bill in which the House of Representatives and the Senate meet on a common ground will be sent to President Donald Trump for approval.
Senator Bernie Moreno put a stricter time limit on the process. Moreno pointed out that if the law is not passed by May, the bill may remain suspended for a long time due to midterm elections that will greatly affect the agenda in the second half of the year. Therefore, the committee meeting in April is of critical importance.
The pressure created by the election atmosphere is seen as the main factor that accelerates the voting process of the bill. Lummis emphasized that the agreed points focused on details. Whether the committee will be able to maintain the targeted schedule will depend on whether the compromises in the draft text are accepted in the later stages.
