Bitcoin loses a crucial supporter: what does Lummis's farewell mean for crypto regulation

After nearly two decades dedicated to defending cryptocurrencies in the U.S. Senate, Cynthia Lummis (R-Wyoming) announced on Friday that she does not intend to run for re-election when her term expires in a few months. The senator's decision, portrayed as a figure from pixel art autumn of crypto politics—colorful but now worn out—marks a crucial turning point for the industry.

An exhausted but aware legislator

“I don't have another six years to give,” Lummis explained in her official statement. “I feel like a sprinter forced to run a marathon. The energy required by Congress no longer matches my capabilities.” The announcement came after the exhausting parliamentary sessions of fall, a period that highlighted how much legislative work on crypto regulation demands superhuman effort.

Achievements: from the GENIUS Act to visions of Bitcoin

During her 18 years in Congress, Lummis earned the nickname “Bitcoin Senator” thanks to her consistent efforts. Her accomplishments include:

• GENIUS Act: Passed earlier this year after months of intense negotiations, it represents the first federal regulatory framework for stablecoins in the United States.
• Bitcoin Act: Proposed by Lummis, this measure would ask the U.S. government to accumulate about $80 billion in Bitcoin over five years, creating a national strategic reserve.

The still unfinished battle on the Market Structure Bill

The most thorny legislative endeavor remains the Market Structure Bill, a product of collaboration between Lummis and Senator Kirsten Gillibrand (D-New York). This bill, which would formally legalize most crypto activities in the U.S., dates back to 2022 but has yet to reach a final vote.

Obstacles have multiplied over time. Republican leaders set successive deadlines—late summer, September, end of the year—all slipping away. Currently, the measure has not yet been reviewed by the Senate Banking Committee, and internal fractures within the crypto industry over regulatory priorities continue to complicate progress.

The unfinished legacy and the void it will leave

If the Market Structure Bill manages to become law before her departure in January 2027, it would crown Lummis's political career in the sector. However, with Congress halting in spring ahead of the 2026 midterm elections, time is rapidly running out.

The news of her retirement has already sent shockwaves through the crypto industry, with numerous leaders expressing gratitude for her work. Her departure leaves unresolved crucial questions: who will continue the regulatory fight? What will be the pace of crypto regulation without her authoritative voice on Capitol Hill?