JACKSON HOLE, Wyo. — U.S. Senator Cynthia Lummis (R-Wyo.) stated that a conclusive draft of the cryptocurrency market structure bill will be laid before U.S. President Donald Trump prior to Thanksgiving, extending the timeline past the earlier set deadline of September 30.

Lummis remarked, “We will have it on the President’s desk before Thanksgiving,” during a session at the SALT conference in Jackson Hole, Wyoming. Previously, she anticipated the bill to be finalized by the end of the year.

The Senate Banking Committee aims to pass the bill by September’s end and expects the Senate Agriculture Committee, which reviews proposals related to the Commodity Futures Trading Commission (CFTC), to examine it by October’s conclusion before it reaches the desk of President Trump.

Lummis further confirmed, “We will have market structure by the end of the year.”

Moreover, Senator Tim Scott, the chairman of the Senate Banking Committee, noted that he foresees support from approximately 18 Democrats in the Senate regarding the bill, which corresponds to the House’s Digital Asset Market Clarity Act.

This bill stands as a crucial legislative move for the cryptocurrency sector, as it delineates the oversight role of both the Securities and Exchange Commission (SEC) and the CFTC regarding the market.

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