Sen. Cynthia Lummis said negotiations on a U.S. crypto market structure package have reached the compromises needed to move the bill forward.
She spoke at the Digital Chamber’s DC Blockchain Summit on Wednesday.
Lummis said the measure should advance out of the Senate Banking Committee in late April.
Committee timeline
Lummis, a Wyoming Republican who chairs the Senate Banking Committee’s digital assets subcommittee, said the bill is now down to “nuance.”
She said:
“We think we’ve got it.”
She added:
“We really are going to get it out of the banking committee in April.”
Lummis suggested the legislation could get a hearing after the Senate’s Easter break, with a markup in late April.
Stablecoin yield language
Lummis said talks were derailed earlier after bank lobbyists argued stablecoin yield could threaten deposit accounts.
She said the latest compromise would disallow crypto platforms from offering rewards using language that equates them with deposit yield or ties rewards to the amount of assets a user holds.
Lummis said:
“Anything that sounds like banking product terminology will not appear.”
She added she hadn’t seen the most recent text, but said Coinbase CEO Brian Armstrong had been willing to give ground.
Other issues and Senate floor risks
Lummis said prior disagreements over language governing DeFi security have also been worked out.
She noted the Senate calendar is in flux, with unrelated fights and the war in Iran potentially consuming floor time, and a shortened 2026 session due to midterm elections.
Lummis said:
“We’re going to have this thing done, come hell or high water, before the end of the year.”
If Banking approves it, it would be the second committee step after Senate Agriculture passed a version earlier this year.
The bill would be reworked into a combined version for a full Senate vote.
