Lummis Releases Updated Digital Asset Market Clarity Act as Congress Nears Crypto Bill; CFTC Advances Futures Reforms
Key Takeaways
- 01Senator Cynthia Lummis states Congress is close to advancing a crypto market structure bill and released an updated Digital Asset Market Clarity Act (H.R. 3633) on July 22.
- 02CFTC extended public comment deadline to August 26, 2026, for proposals on 24/7 futures trading and energy commodity perpetual contracts.
- 03CFTC issued a final order on July 17 sunsetting routine position-reporting requirements under Part 20 for physical commodity swaps.
- 04The updated bill incorporates merged work from Senate Banking and Agriculture Committees, aiming for regulatory clarity in digital assets.
Senator Cynthia Lummis announced that Congress is nearing advancement of a cryptocurrency market structure bill, specifically releasing an updated text of the Digital Asset Market Clarity Act (H.R. 3633) on July 22, marking a key step toward regulatory clarity for digital assets. Concurrently, the CFTC extended the public comment period to August 26, 2026, for proposals enabling 24/7 trading of standard futures contracts and listing energy commodity perpetual contracts, while issuing a final order on July 17 sunsetting routine large trader position-reporting under Part 20 for physical commodity swaps.
Lummis, as Chair of the Senate Banking Digital Assets Subcommittee (R-WY), has been a leading advocate for structured crypto regulations. The updated bill reflects merged inputs from the Senate Banking and Agriculture Committees, aiming to delineate oversight between agencies like the CFTC and SEC, addressing uncertainties in crypto market operations. This builds on her prior statements, shared via sources like CoinlytX, emphasizing imminent legislative progress without prior specific timelines or provisions.