The landscape of cryptocurrency regulation in the United States is set to undergo significant developments as Congress reconvenes in 2025. Following a month-long recess, both the Senate and House of Representatives are prepared to address critical issues affecting the cryptocurrency and blockchain sectors. Among the urgent legislative priorities for Republican lawmakers is the establishment of a clear market structure for digital assets.
After a scheduled break, which began weeks ago as per the 119th session’s timeline set in January, Congress is poised to resume its legislative activities. This pause halted progress on numerous important matters, including the nomination of Brian Quintenz for the position of chair of the Commodity Futures Trading Commission (CFTC) and discussions surrounding legislation aimed at limiting the issuance of a central bank digital currency (CBDC).
Upon returning, one of the first items on the Republican agenda will be to advance a bill that establishes a comprehensive market structure for cryptocurrencies. In July 2025, the House passed the Digital Asset Market Clarity (CLARITY) Act, garnering support from 78 Democrats. This legislation has now moved to the Senate, where it awaits further amendments and debate.
Senator Cynthia Lummis from Wyoming, a leading advocate for more transparent and less restrictive cryptocurrency regulations, has been vocal about the need for a well-defined market structure. During an August blockchain conference, she expressed optimism that the Senate Banking Committee would pass its version of the market structure legislation, building upon the CLARITY Act, by the end of September. Lummis anticipated that the bill could reach the desk of President Trump before the year’s end. However, as of now, neither the Senate Agriculture Committee nor the Senate Banking Committee has scheduled hearings to discuss the bill.
In a related development, starting Wednesday, Caroline Pham, a Republican, will serve as the sole commissioner and acting chair of the CFTC following the resignation of Kristin Johnson, a Democratic member. Johnson had indicated her intention to resign before 2026, and Pham has stated she would transition to the private sector if Quintenz is confirmed. At this point, Quintenz’s confirmation remains uncertain, especially after the agriculture committee postponed a vote on his nomination at the White House’s request prior to the recess.
“Crypto advocacy groups are intensifying their efforts to support Quintenz’s confirmation at the CFTC amidst significant pushback,” commented industry analysts.
Additionally, co-founders of Gemini, Cameron and Tyler Winklevoss, have reportedly urged President Trump to reevaluate Quintenz’s nomination. While they initially endorsed the nomination after it was announced in February, they later expressed concerns that Quintenz may not fully implement the president’s cryptocurrency agenda.
As of Monday, the Senate Banking Committee plans to consider five of Trump’s nominations, but the Senate Agriculture Committee has not yet set a date for Quintenz’s hearing. In July, the House also succeeded in passing the Anti-CBDC Surveillance State Act with minimal Democratic support, although Republicans are exploring alternative options for the legislation, which now awaits Senate consideration.
In August, the House Rules Committee introduced a revision to HR 3838, a bill linked to the National Defense Authorization Act, which includes provisions to prohibit the Federal Reserve from issuing a digital dollar—aligning with the objectives outlined in the Anti-CBDC Surveillance State Act. However, it remains to be seen which, if any, of these bills will garner sufficient bipartisan support to pass through Congress without amendments or modifications.
As the situation unfolds, industry stakeholders are advised to stay informed about these legislative developments, as they will significantly influence the future of cryptocurrency regulation in the United States.
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