Sen. Cynthia Lummis (R-WY), a prominent figure in the cryptocurrency sector, announced that she will not seek reelection when her Senate term concludes next year. Lummis, known as the “Bitcoin Senator” for her strong advocacy and support for digital assets, expressed in a statement that the decision represented a significant change for her. After enduring a grueling legislative session this fall, she acknowledged her limits, stating, “I do not have six more years in me,” and noted that the energy required for her role felt more like a marathon than a sprint.
During her tenure, Lummis was pivotal in the advancement of key cryptocurrency legislation, most notably the GENIUS Act. This landmark bill, which established a federal framework for the issuance and trading of stablecoins, faced significant challenges before successfully passing in late July. Currently, Lummis is also immersed in ongoing discussions surrounding a comprehensive market structure bill aimed at formalizing the legality of most cryptocurrency activities in the United States. This legislation, which dates back to its initial drafting with Sen. Kirsten Gillibrand (D-NY) in 2022, has encountered numerous delays and disagreements among various stakeholders in the crypto industry.
The market structure bill has been subject to shifting timelines; Senate Republicans initially aimed for its passage by the end of summer, then by September, and more recently, by the year’s end—a target that now appears increasingly uncertain. As Congress gears up for the 2026 midterms, the likelihood of moving forward with this legislation remains in doubt.
In addition to her legislative efforts, Lummis has emphasized Bitcoin’s significance within the financial landscape. Earlier this year, she proposed the Bitcoin Act, a bill designed to require the U.S. government to acquire roughly $80 billion in Bitcoin over five years. This initiative was intended to enhance the nation’s strategic reserves of Bitcoin.
Upon her retirement announcement, Lummis received an outpouring of support from leaders in the crypto industry. Ji Kim, CEO of the Crypto Council for Innovation, recognized her as a “leading champion for digital assets in Washington,” expressing gratitude for her contributions to fortifying the digital asset ecosystem. Lummis is set to exit Congress in January 2027.
