lummis

U.S. Senator Cynthia Lummis stated that after nearly a year of bipartisan cooperation, the U.S. Digital Asset Market Structure Act (CLARITY Act) is set to enter the committee review stage this week, bringing the U.S. closer to "consolidating its global leadership in financial innovation." Lummis said, "Wyoming has been a pioneer in exploration, and now Washington is following suit."Previously, Republican members of the U.S. Senate Banking Committee announced that Committee Chairman Tim Scott, Lummis, and Thom Tillis have jointly released the text of the market structure bill. According to the statement, the bill aims to establish a clear regulatory framework for the digital asset industry, protect investors, combat illegal financial activities, and encourage innovation to remain in the U.S.

According to BBX data, yesterday the earnings season for cryptocurrency-related stocks and the expansion of stablecoin infrastructure advanced simultaneously, with the following key developments:Robinhood Markets, Inc. (NASDAQ: $HOOD) released its Q1 2026 earnings report and submitted SEC Form 8-K after the market closed on April 28: total revenue of $1.07 billion (up 15% year-over-year), below the analyst consensus expectation of $1.14 billion; adjusted EPS of $0.38, slightly lower than the consensus of $0.39; cryptocurrency trading revenue plummeted 47% year-over-year to $134 million (compared to $252 million in the same period last year), with cryptocurrency trading volume also declining 48% to $24 billion, marking the third consecutive quarter of declining cryptocurrency revenue. Meanwhile, revenue from event contracts (prediction markets) surged 320% year-over-year to $147 million, surpassing cryptocurrency revenue for the first time to become the largest source of trading revenue, with a record contract volume of 8.8 billion for the quarter; affected by the earnings report, $HOOD fell about 13.24% to $71.20 yesterday.Visa Inc. (NYSE: $V) announced on April 29 through an official BusinessWire press release that five new blockchains—Arc, Base, Canton, Polygon, and Tempo—have been added to its global stablecoin settlement pilot, expanding the total supported network to nine (previously Ethereum, Solana, Avalanche, Stellar); the annualized scale of stablecoin settlements reached $7 billion, a 50% increase from the previous quarter. The pilot allows issuing banks and acquiring banks to settle using stablecoins instead of traditional banking rails, currently covering over 50 countries and more than 130 stablecoin-related card projects, and has expanded to USDC settlements with U.S. banks.Senator Cynthia Lummis publicly confirmed on April 29 that the markup for the CLARITY Act in the Senate Banking Committee is scheduled for May 2026; at the same time, the SEC announced it will hold a roundtable discussion on May 3 regarding issues related to the CLARITY Act, further clarifying the signals of coordination between regulatory and legislative bodies to accelerate the process, providing an official timeline endorsement for the previously anticipated "end of May" market expectations.

The proposer of the "Bitcoin Strategic Reserve Act," U.S. Senator Cynthia Lummis, stated that concerns about the developer protection provisions of the "CLARITY Act" are not a new issue. Efforts are currently underway to improve these provisions, aiming to ensure the safety of non-fund transfer developers while holding wrongdoers accountable.

U.S. Senator Cynthia Lummis stated at the "Bitcoin 2026" conference that she plans to promote the CLARITY Act into the legislative process and push for its final implementation to establish a complete regulatory framework for the U.S. crypto market.Lummis also stated that Bitcoin, with its characteristics of not requiring a trusted third party and having a limited supply, is "truly free money," and believes that the U.S. should become the global hub for this asset.

U.S. Senator Lummis stated on social media that the previous administration led to an outflow of the digital asset industry. She emphasized that now is the time to establish clear regulatory rules for the digital asset industry and welcome its return to the U.S., calling for the passage of the Clarity Act.

U.S. Republican Senator Cynthia Lummis stated that we have come too far to return to a state of regulatory uncertainty. Digital assets represent the future, and now is the time for the U.S. to provide the necessary development environment for them.

Crypto journalist Eleanor Terrett posted on the X platform that Senator Cynthia Lummis stated that the CLARITY crypto bill "must be completed by the end of the year, no matter what." She also revealed that the Republican side of the Senate Banking Committee plans to initiate the bill markup process in late April after the Easter holiday.Regarding the issue of stablecoin yields, Cynthia Lummis stated that a solution has basically been reached, and she also mentioned that the related disputes in the negotiations on DeFi-related provisions have been properly addressed.

The proposer of the "Bitcoin Strategic Reserve Act," Senate Banking Committee on Digital Assets Chair Cynthia Lummis, stated that she had a meeting with CFTC Chair Michael Selig, where they discussed the structure of the digital asset market, and the conversation was very pleasant. The CFTC Chair is well aware of the urgency of the moment and looks forward to continuing collaboration in the process of integrating digital assets into the 21st-century financial system.

According to The Block, U.S. Senator Cynthia Lummis called for the banking industry to embrace stablecoins and digital assets during an interview, believing that this will bring new product opportunities for traditional financial institutions.She pointed out that stablecoins can significantly reduce settlement times and costs, thereby greatly enhancing the efficiency of domestic and international transactions. Providing custody and payment services for this will open up more business possibilities for banks. Lummis currently serves as the chair of the Senate Digital Assets Subcommittee.She emphasized that she does not understand why the banking industry resists digital assets, as this actually provides banks with new financial products to offer to customers. The current disagreement between banks and the cryptocurrency industry over stablecoin yield terms remains a key factor delaying the passage of the U.S. cryptocurrency market structure bill.

The proposer of the "Bitcoin Strategic Reserve Act," Chair of the Senate Banking Committee's Digital Assets Subcommittee Cynthia Lummis, stated that the U.S. "Responsible Financial Innovation Act" will allow large banks to provide digital asset custody, staking, and payment services under appropriate regulation. "Digital assets are an integral part of our financial system, and incorporating them into a regulated banking system will both protect consumers and unleash growth potential."According to previous reports, after months of delays, the U.S. Senate Banking Committee may hold a markup meeting on the "Responsible Financial Innovation Act" next week. This move marks a significant breakthrough in the legislative process, which has been slow due to concerns from Democratic lawmakers about decentralized finance and the longest government shutdown in U.S. history.

Senator Lummis posted on the X platform stating that the "Responsible Financial Innovation Act" allows large banks to provide digital asset custody, staking, and payment services under appropriate regulation.Senator Cynthia Lummis pointed out that digital assets are an indispensable part of the financial system, and incorporating them into the regulated banking system can protect consumers while unleashing growth potential.

According to Cointelegraph, Wyoming Representative Harriet Hageman recently released a mysterious video titled "Soon," sparking speculation about her potential candidacy for the Senate seat in 2026. This comes after current Senator Cynthia Lummis announced she would not seek re-election. As a staunch supporter of the cryptocurrency industry, Lummis has pushed for several blockchain legislations, including the Responsible Financial Innovation Act, and her departure will leave the crypto industry without an important ally.Although Hageman has not yet made digital assets a core focus, she has gained the support of Caitlin Long, a key advocate for blockchain legislation in Wyoming. The 2026 election will test whether the state continues to maintain its position as a Senate advocate for cryptocurrency.

The cryptocurrency industry expresses regret over U.S. Senator Cynthia Lummis, a supporter of cryptocurrency, announcing that she will not seek re-election in 2026. Cynthia Lummis stated that although she is a devoted legislator, she feels that her energy cannot support another six-year term. Collin McCune, head of government affairs at a16z, remarked that without Cynthia Lummis's efforts in Congress, the crypto industry would not have achieved its current success. David Sacks, the White House's AI and cryptocurrency director, described her as a great ally in the crypto space.Previously, Cynthia Lummis had strongly advocated for the Responsible Financial Innovation Act and the American Innovation and Choice Online Act, aimed at providing regulatory clarity for digital assets. Kyle Samani, co-founder of Multicoin, stated that although Cynthia Lummis has decided to step down, the work on policy-making is not yet complete, and there is still legislation to be passed in 2026.

U.S. Senator Cynthia Lummis has announced that she will not seek re-election, with her term ending in January 2027. As the chair of the Senate Banking Committee's Digital Assets Subcommittee, she has been actively involved in legislative efforts regarding cryptocurrency regulation at the congressional level, collaborating with Kirsten Gillibrand to promote the establishment of a regulatory framework for digital assets that clarifies the regulatory roles of agencies such as the U.S. SEC and CFTC. The related legislation is currently progressing through the Senate Banking Committee and the Agriculture Committee, and will need to be voted on by the full Senate and reconciled with the House version.

U.S. Senator Cynthia Lummis stated that community banks should actively embrace Bitcoin and cryptocurrencies. She emphasized that 2026 will be an important year for the adoption of Bitcoin.

U.S. Senator Lummis stated: Strategic Bitcoin Reserve is the only solution to address our national debt, supporting the Trump administration's push for SBR (Strategic Bitcoin Reserve).

ChainCatcher News, U.S. Senator Cynthia Lummis (Wyoming, Republican) wrote to Acting Director of the Consumer Financial Protection Bureau (CFPB) Russ Vought, strongly supporting the implementation of Open Banking rules and urging regulators to "complete the final version as soon as possible" to prevent large banks from politically motivated blocking of public access to digital asset platforms and other financial services.In her letter, Lummis pointed out that large banks abuse their position as financial gatekeepers, restricting access to financial services for industries and individuals they do not agree with, including digital asset companies, firearms manufacturers, religious organizations, and even the President himself. She emphasized, "We cannot allow opponents of crypto assets to rewrite the rules, stifle innovation, and drive up costs. This will only force entrepreneurs to go overseas and undermine the United States' leadership in the fintech sector."The Open Banking framework was first proposed by the Biden administration in 2022 and is set to be finalized in 2024, aiming to allow users to securely share financial data with third-party applications via APIs, thereby connecting bank accounts with digital asset platforms. This rule is seen as an important infrastructure to promote crypto adoption.Lummis stated, "Without Open Banking rules, it is impossible to securely connect bank accounts to crypto exchanges. Especially when some bank executives, such as JPMorgan CEO Jamie Dimon, openly oppose digital assets, users need to be protected." Several crypto industry organizations, including the Blockchain Association and the Crypto Council for Innovation, also sent letters to the CFPB on the same day, urging regulators to clarify that "Americans own their financial data, not large banks."

ChainCatcher news, according to Bitcoin News, former Bitcoin and AI advisor to Senator Lummis, Conner Brown, has joined the Bitcoin Policy Institute as the Strategic Director.

ChainCatcher news, as reported by Bitcoin Magazine, U.S. Senator Lummis recently told Elon Musk that establishing a strategic Bitcoin reserve is the wisest choice to support the dollar.She emphasized that, given Bitcoin's scarcity characteristics, the U.S. could use this reserve to pay off a significant portion of the national debt over the next 20 years.

ChainCatcher News: U.S. Senator Cynthia Lummis has introduced a new bill aimed at eliminating taxes on everyday Bitcoin transactions. The bill proposes to exempt capital gains tax on cryptocurrency transactions below $50, making it easier for users to make everyday consumer payments.