Congress is ready to take a historic step in US cryptocurrency regulation as Senator Cynthia Lummis's bipartisan market structure proposal approaches a vote in January 2026.
After ten years of uncertainty, the law will provide clarity for innovators, protect consumers, and ensure that growth in digital assets occurs in the US and not abroad.
Regulatory drive is increasing as Lummis takes a step back
Wyoming Senator Cynthia Lummis, who has long fought for clarity around digital assets, announced on December 19 that she will not run for reelection. Despite this, she confirmed that she will continue to work on her bipartisan proposal.
'Our proposal for a market structure for digital assets provides the clarity that innovators need while protecting consumers,' Lummis wrote on X on Sunday.
She emphasizes that clear rules are needed for American innovation to grow. The post came less than a day after Lummis highlighted another important regulatory framework: Governor Waller's narrow master account framework.
According to the senator, the plan ends Operation Chokepoint 2.0 and opens up for real innovation around payments.
The crypto community is closely following the developments. Meanwhile, SEC chief Paul Atkins and individuals like Merlijn the Trader have emphasized that the proposal could provide unique clarity in the rules.
'After a decade of uncertainty, the framework is beginning to take shape. Markets are rarely priced for clear rules,' noted Merlijn on X.
At the same time, David Sacks, Trump's AI and crypto chief, confirmed progress with congressional leaders.
'...we are closer than ever to adopting the groundbreaking law on crypto markets that President Trump has called for. We look forward to completing this in January!' Sacks wrote on X.
The SEC's project Crypto shows the way
In November 2025, SEC chief Paul Atkins gave the project 'Project Crypto' which clarified the rules further. The project introduced a four-part classification of tokens. The framework distinguishes between digital commodities, collectibles, tools, and tokenized securities.
Most tokens, as long as they are not linked to ongoing investment contracts, are now defined outside of SEC oversight. This gives those working in the industry clear guidelines they have long awaited.
The rules for broker-dealer guarantee accounts were also clarified. Additionally, the SEC has organized dialogue on privacy to balance innovation and market security.
Access to banking, coordination among authorities, and future steps
December marked new progress. The FDIC approved full insurance for a national crypto bank on December 16, and accounts for stablecoin payments were put out for public comment.
The Federal Reserve's master account framework is expected to provide better banking access for crypto institutions that comply with the rules. New leaders in CFTC and FDIC, as well as laws like the SAFE Crypto Act, show that legislators from both parties want broad reforms.
The January vote is a turning point. If the proposal passes, Lummis's proposal:
Strengthening the USA's leading role in digital assets,
Establish clear rules that entrepreneurs have long requested, and
Ensure that the country can compete in the global crypto market.
With support from both parties and growing optimism in the industry, 2026 could be the year when the USA gets its act together in the crypto world.