Key Takeaways
- US lawmakers are focusing on passing a digital asset market structure bill, potentially influencing the 2026 midterm elections.
- Discussion drafts of the Responsible Financial Innovation Act have been released by Senate committees, building on House-passed legislation.
- The crypto industry, through PACs and advocacy groups, is actively engaging in elections to support pro-crypto candidates.
- Several pro-crypto candidates have already won elections, indicating the growing influence of this voting bloc.
- Timelines for passing the bill are uncertain due to congressional schedules and the upcoming election campaigns.
With a significant government shutdown now concluded, attention from some US lawmakers has shifted towards the potential passage of a digital asset market structure bill. This legislation is poised to become a significant talking point for voters heading into the 2026 midterm elections.
Legislative Developments and Timelines
The US Senate Banking Committee and the Senate Agriculture Committee have jointly released discussion drafts of their versions of a market structure bill. This initiative builds upon the CLARITY Act, which was previously passed by the House of Representatives in July. Despite the current congressional session extending until January 2027, the window for lawmakers to potentially pass the bill, officially known as the Responsible Financial Innovation Act, may be limited, especially considering the upcoming holiday season and the ramp-up to midterm election campaigns.
“Going into 2026, market structure is still [the] number one priority for everybody. Market structure is still that shining objective that we’ve been trying to get, and going into 2026, that’s 100% the most important thing. Whoever votes for that, against that, it’s going to be a huge deal.”
Senator Cynthia Lummis, a key Republican figure on the Senate Banking Committee, had previously indicated in August that the bill would clear both the banking and agriculture committees by November and potentially become law by 2026. However, the recent government shutdown and opposition from several influential Democrats could impact this projected timeline.
Industry Engagement and Electoral Influence
The cryptocurrency industry is demonstrating a proactive approach to current and future elections, mirroring its strategy from 2024. Political action committees and advocacy organizations, such as Stand With Crypto, are aligning with candidates who publicly champion pro-crypto policies and legislation. This engagement is expected to significantly influence voter decisions in the 2026 midterms.
In the 2026 elections, all 435 seats in the House of Representatives and 33 seats in the Senate will be contested. Last year, Stand With Crypto reported that a considerable number of candidates—274—identified as pro-crypto, based on their public statements and voting histories, secured election or re-election. This group represents a substantial contingent within Congress.
Mikie Sherrill, a Democratic representative, won her election in New Jersey’s 2024 gubernatorial race by a margin of approximately 450,000 votes. A survey conducted by Stand With Crypto in June, five months prior to the election, revealed that over half of 1,000 surveyed New Jersey voters indicated a higher likelihood of voting for a candidate who supported pro-crypto policies.
“The big thing that scored [Sherrill] was that she voted for the crypto bills that went through the House this year,” stated Mason Lynaugh, community director at Stand With Crypto, referencing the organization’s system for evaluating candidates on their stances regarding digital assets. Sherrill had indeed voted in favor of market structure and stablecoin legislation in the House.
It remains to be seen whether voters focused on cryptocurrency issues will consider lawmakers’ voting records on market structure when casting their ballots in November 2026. As of the latest reports, neither the Senate Banking Committee nor the Agriculture Committee had yet scheduled a vote on the bill, a necessary step before it could proceed to a full floor vote.
Final Thoughts
The development of a digital asset market structure bill is gaining momentum in the US Congress, with potential implications for upcoming elections. The crypto industry’s increasing involvement in political advocacy suggests a growing influence on policy and voter behavior.
