1
1
WASHINGTON, D.C. — Senator Cynthia Lummis said she was "dismayed, dumbfounded and saddened" that the Senate couldn't advance a key procedural vote for crypto market structure legislation last week.
Lummis blamed Democrats for the bill's failure at an appearance Tuesday at CoinDesk's Policy & Regulation event, saying that while the bill was the result of negotiations between members of both parties.
"The problem was, as I see it, Democrats hate President [Donald] Trump more than they like good policy, and the way I see it is they chose their visceral hatred for President Trump and denied the opportunity to pass important policy legislation before a midterm," she said. "They chose that … pin it on the Democrats."
The bill itself was a bipartisan product which grew from some 300 pages to over 600, she said, after Democrats asked for provisions addressing issues like bankruptcy protections, among other items.
"Every single Democrat voted no, every single one. I see some of the spin post-vote blaming it on Brian Armstrong … or blaming it on the industry for being too aggressive or anybody else they can blame, President [Donald] Trump because he made a bunch of money on a memecoin before he was president," she said.
Trump revealed in a mid-year financial disclosure in 2026 that he made $1.4 billion off of his various crypto ventures in 2025, the first year of his presidency.
Lummis did say Tuesday that she credited Democrat Senators Angela Alsobrooks and Kirsten Gillibrand — the latter of whom has been her longtime partner in sponsoring crypto legislation — for being "honest brokers" in the negotiations over the bill.
cointelegraph.com
beincrypto.com
crypto.news