- GENIUS and CLARITY Acts expected to pass, but final legislation may extend into 2026.
- Trump’s crypto ties spark Democratic division despite bipartisan support for stablecoin regulation.
As calls for crypto regulation grow louder, two key bills—the GENIUS Act and the CLARITY Act—are gaining momentum in Washington.
Despite progress in the Senate, bipartisan disagreements could push final decisions into 2026.
Senator Cynthia Lummis, Chair of the Senate’s digital assets subcommittee, said she expects both bills to be finalized by the end of this year, though delays remain possible.
Senator Lummis provides clarity on two crypto bills
Speaking at the Bitcoin Policy Institute Summit in Washington, D.C., Lummis emphasized that while Europe and Singapore already have crypto regulations, the U.S. is still behind.
In a separate interview on CNBC’s Squawk Box, Lummis noted,
“I mean, it’s still we’re late, aren’t we? Compared to some countries in the rest of the world, and it’s sorely needed… Europe has regulations. Singapore has regulations.”
She added,
“But they’re not exactly tailored to what would be a more robust U.S. economy style of regulation.”
Notably, President Donald Trump initially set a deadline for August. However, Senator Lummis warned that delays are likely. She expects the legislation’s final phase could extend into early 2026.
This is due to the urgency and complexity of stablecoin regulation.
“Now, I’m not saying combine them, but they both need to pass this year. I know that there is enthusiasm at the White House for having the Congress send them a win in the area of stablecoins.”
During the Summit itself, Lummis stressed the need to pass stablecoin laws in 2025, with strong support from the White House.
“The White House is ahead of us. They’ve already passed the GENIUS Act.”
She added,
“There’s real excitement at the White House to see Congress send them something they can sign, specially around stablecoins.”
But road blockers persist
However, despite some bipartisan progress on crypto legislation, evidenced by 18 Democrats supporting the GENIUS Act alongside Republicans like Senator Lummis, division remains within the Democratic ranks.
A growing faction is hesitant to advance any crypto-related bills without first scrutinizing President Trump’s direct ties to the industry.
Concerns have mounted over his memecoin ventures, a personal stake in the family-run World Liberty Financial, and sizable political contributions from crypto executives.
At a recent Senate hearing, several Democratic lawmakers were absent, and those present voiced concerns over potential conflicts of interest tied to Trump’s crypto holdings and political donations from industry players.
Acknowledging the divide, Lummis said,
“I don’t want to come up with a piece of legislation that the other side of the aisle feels they haven’t had adequate input in, and so that is going to require maybe me to go out of my way to pursue additional discussions directly with the other side of the aisle.”
What’s more?
All eyes are now on the U.S. House of Representatives, which must decide whether to incorporate the GENIUS Act into the broader Digital Asset Market Clarity framework, or advance it independently, as suggested by President Trump.
The stakes are high: the stablecoin market, currently valued at $256 billion, could surge to $2 trillion by 2028 if clear legislation is passed.
However, the Senate remains a key obstacle, requiring bipartisan cooperation for any crypto-related bill to succeed.
Senator Lummis, a vocal supporter of President Trump’s pro-crypto stance, has previously advocated for a national Bitcoin reserve.
She continues to highlight how current legislative efforts align with the White House’s vision for digital assets.
