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The 635-page bill represents a rare bipartisan construction, with Democrats credited for writing more than half its text, raising the odds of a floor vote.
The blunt ultimatum signals that years of bipartisan crypto-market-structure negotiations may hinge on a single Senate floor vote, with no clear fallback path if the bill collapses.
The accusation signals a partisan standoff that could stall the most comprehensive US crypto market structure bill yet, deepening regulatory uncertainty for the industry.
Without a clean jurisdictional split between the SEC and CFTC, token issuers and DeFi protocols stay in regulatory limbo for another full political cycle.
The Wyoming senator's timeline sharpens the political stakes: missing this Congress pushes market structure clarity out of reach for half a decade, freezing US digital asset policy in the interim.
A vote would be a near-term test for U.S. crypto market-structure legislation, but it would not guarantee passage or establish when any new rules take effect.
The Wyoming senator's push lands as the bill heads toward a floor vote that would split digital asset oversight between the CFTC and the SEC, ending years of jurisdiction-by-enforcement.
The red line is state attorneys general suing federal officials over crypto ties; Democrats say the draft still falls short on Trump exposure, and a floor vote is unsettled before the August 7 recess.
The bill, framed by the Terra $40B wipeout, would ring-fence client funds from issuer insolvency, a structural fix the industry has wanted since 2022.
The bill slipped its July target and now leans on an August 7 window; the "your crypto, not the estate's" pitch sells the politics, but the actual carve-outs from bankruptcy clawback remain limited.
The Wyoming senator's framing, that decentralization status should dictate regulatory treatment, lands as Washington still hashes out market-structure and stablecoin bills.
A closed-door Thursday meeting with Trump, Lummis, Moreno and the White House crypto team is the last real chance to clear the stablecoin bill before ethics language sinks it.
Lummis is pushing to move the digital asset market structure bill straight to the President's desk, but ethics provisions targeting presidential crypto holdings have put the brakes on floor time.
Senators Lummis and Moreno bring the long-stalled market structure push straight to the Oval Office, with Solana Policy Institute calling the sit-down hugely positive.
Senator Lummis told Fox Business bill text drops within days and a floor vote could come as soon as next week, with an August 7 recess deadline that makes the window unusually tight.
Polymarket is pricing the structured-market-structure bill at well under 50% to clear the upper chamber before the August recess, with Lummis publicly leaning on leadership for a floor vote.
The proposal creates a federal carve-out for validation rewards and a micro-payment threshold, a structural cushion the post-halve mining economy and a reawakening US policy push both lean on.
The Senate has roughly four working weeks before August recess to clear a bill the House already passed 294-134, and Polymarket traders have already cut 2026 passage odds to 48% from 74% a month ago.
Senator Cynthia Lummis made a pointed case for U.S. crypto leadership, arguing that financial freedom is a core…
Senator Cynthia Lummis announced that the Clarity Act has passed committee, moving the landmark crypto market-structure…
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