Lummis and fellow Republican Senator Bill Hagerty are urging leadership to end the cycle of indefinite talks. The bill, which passed the House in July 2025, requires 60 votes to overcome procedural hurdles. While Majority Leader John Thune has set aside time on the agenda, official records show no formal cloture filing, leaving the bill’s immediate future in doubt. Lummis argues that delaying the vote risks driving digital-asset firms to more hospitable jurisdictions like Switzerland and Singapore.
Negotiations remain stalled over core disagreements regarding the Commodity Futures Trading Commission’s authority, ethics restrictions for government officials, and the scope of anti-money-laundering safeguards. Democrats continue to push for stricter bans on officials profiting from crypto ventures and more robust protections against illicit finance. Because Republicans control only 53 seats, the bill’s passage hinges on securing at least seven Democratic votes. With the August recess approaching, the legislative window for achieving this consensus is rapidly closing.

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