Washington, D.C. — Senate Banking Subcommittee on Digital Assets Chair Cynthia Lummis (R-WY), released the following statement celebrating the bipartisan passage of her bill, the Digital Asset Market Structure Clarity Act of 2025, out of the Banking Committee by a 15 to 9 vote.
“After nearly a year of around-the-clock negotiations, I am incredibly proud of the product we have passed out of Committee today,” said Lummis. “This is a historic step forward for digital asset innovation, and I am grateful to Chairman Scott for his tireless efforts to move this legislation through Committee and my colleagues on both sides of the aisle who chose to put American leadership ahead of politics. Today’s passage out of Committee sends an unmistakable signal that the United States is not ceding the future of digital finance to anyone. I want to thank the industry, stakeholders, and every colleague who spent countless hours working to ensure we produced a bill worthy of this moment, and I believe we accomplished that goal. The United States has long been a beacon of innovation, and with final passage on the Senate floor, we are going to make sure it stays that way. Let’s finish what we started and cement America’s digital asset space for generations to come.”
In 2022, Senator Lummis joined Senator Kirsten Gillibrand (D-NY) in introducing the Responsible Financial Innovation Act, a comprehensive bipartisan bill to establish the first regulatory framework for digital assets in the United States, dividing oversight jurisdiction between the SEC and CFTC.
In 2023, Senators Lummis and Gillibrand reintroduced the legislation.
In July of 2025, Senator Lummis led Senate Banking Chairman Tim Scott (R-SC) and Senators Bill Hagerty (R-TN) and Bernie Moreno (R-OH) in releasing a Senate discussion draft of the Responsible Financial Innovation Act of 2025.