The U.S. crypto market structure legislation is facing renewed time pressure. Senator Cynthia Lummis stated that if the CLARITY Act cannot advance during this session of Congress, the next major legislative window may not occur until 2030.
A procedural vote will be held on September 15.
The Senate plans to hold a 60-vote cloture vote on September 15 to determine whether to formally initiate debate on the bill. This vote is a procedural step and does not equate to the bill’s final passage.
Lummis’s statement highlights the time constraints facing the U.S. Congress in enacting cryptocurrency regulatory legislation. If this round of efforts fails, the related market structure bill could face a much longer delay.
Lumis emphasizes the segregation of custody from client funds.
Lumis stated that the CLARITY Act enhances client protection through measures such as segregating client funds with qualified custodians. She also noted that the bill is expected to support job creation, investment, and tax growth.
From the current wording, supporters are attempting to frame the bill as a market structure law that balances investor protection with industry development, rather than merely a deregulatory measure for the industry.
The legislative process is still in the early stages.
The Senate’s upcoming vote is merely a procedural test to initiate debate, far from the final decision. Next, market attention will focus on whether the Senate can first surpass the 60-vote threshold.
If the procedural vote fails, the U.S. crypto industry’s market structure rules at the federal level may remain stuck in a state of fragmented regulation and slow legislative progress.