R-Wyo. Senator Cynthia Lumith will arrive at the Capitol for a vote on Wednesday, February 26th, 2024.
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The Senate is still addressing versions of regulatory surveillance on crypto and digital assets, but that’s another step.
The senator on Friday updated the draft major market structure crypto bill with a new provision that prevents stocks and other securities from being treated as commodities if tokenized as digital assets and crypto.
“I hope for this at the president’s desk by the end of the year,” R-Wyo said. Sen. Cynthia Ramis, of the group, told CNBC Thursday.
The House and Senate passed major stubcoin bills over the summer, with President Donald Trump signing the law in July.
But the real award for many crypto companies Coinbase Ripple is a market structure bill.
The House passed the bill in July, but the Senate is working on its own version. The two versions need to be combined to reach the Trump desk.
The Senate version of the Responsible Financial Innovation Act of 2025 is the basis for when digital assets are regulated as securities against products.
Ramis said he hopes the Senate Banking Committee will vote this month on some of the bills dealing with the Securities and Exchange Commission. She said she hopes the Senate Agriculture Committee will vote in October for the portion dealing with the Commodity Futures Trading Commission.
According to Lumis, the floor vote could come soon in November.
The draft has not yet gained support from Senate Democrats, but Ramis said there is a bipartisan debate going on.
“There was an effort to combine Democrats and Republicans on certain sub-issues of the Legal Guide to make sure they are at the best possible.
Even if all Republicans vote for the measure, at least seven Democrat senators will need to join them to ensure they pass.
A spokesman for the Senate Banking Committee said in a statement that the draft “reflects feedback from hundreds of stakeholders on a wide range of questions.”
