U.S. crypto framework is coming

After years of lagging behind global competitors, the US may finally be catching up on crypto policy, according to Senator Cynthia Lummis.

In the latest episode of “Decentralize with Cointelegraph,” the Wyoming senator said recent developments mark a turning point.

Milestones and progress

“There were at least two significant milestones,” Lummis said, referring to last week’s so-called “Crypto Week” in Congress. 

The first was the GENIUS Act legislation, which authorizes payment stablecoins, went to President Trump’s office and was officially signed into law; the second, the CLARITY Act, will now go to the Senate for consideration.

Lummis, who co-authored a Senate market structure draft, praised the progress. “We’ve been crafting and getting feedback… for four years now,” she said. “Even though it’s now coming to the forefront, this has been something that’s been in the development stage.”

Notably, she highlighted the growing bipartisan support:

“We had to do some extra listening, changing, amending… but we got a good solid vote… [and] we’re working very hard to keep this a bipartisan product.”

The senator also discussed what makes the Senate bill distinct. “We’ve emphasized something called ancillary assets, which is a helpful way to determine what is a security [or] a commodity,” she explained.

Related: US crypto legislation drives $4B surge in stablecoin supply

Crypto and beyond

Beyond crypto, Lummis also addressed her new AI-focused legislation, the RISE Act. “AI falls under the jurisdiction of the Commerce Committee,” she said, “so there’s sort of a symbiotic relationship between the digital asset world and the AI world.”

The bill focuses on liability protections and professional responsibilities. “If part of that information is AI-generated and… false, the professional has a duty to vet it,” she said. “We want to make sure it also provides some modeling information.”

Asked what message she had for crypto builders who may have given up on the US, Lummis said:

“Don’t lose faith. We’re waking up. President Trump has expressed his desire to make the United States the digital asset capital of the world… Help is on the way. Legislation is on the way. Rules of the road are on the way.”

Listen to the full episode of Byte-Sized Insight for the complete interview on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows! 

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