WASHINGTON, D.C. — Senator Cynthia Lummis expressed dismay and frustration following the Senate's failure last week to advance a key procedural vote for crypto market structure legislation. Speaking Tuesday at CoinDesk's Policy & Regulation event, Lummis placed the blame squarely on Democratic lawmakers.
According to Lummis, the legislation was developed through bipartisan negotiations, expanding from approximately 300 pages to over 600 pages after Democrats requested specific provisions, including bankruptcy protections. Despite this collaborative drafting process, every single Democratic senator voted against the procedural measure.
Lummis argued that political animosity toward the administration dictated the outcome. "The problem was, as I see it, Democrats hate President [Donald] Trump more than they like good policy," Lummis said, adding that they "chose their visceral hatred for President Trump and denied the opportunity to pass important policy legislation before a midterm."
The senator also dismissed post-vote efforts by critics to place blame on industry figures or the cryptocurrency sector at large. She specifically referenced criticisms tied to a 2026 mid-year financial disclosure revealing that President Trump earned $1.4 billion from crypto ventures in 2025 during his first year in office.
Despite her overall criticism of the Democratic caucus, Lummis praised Democratic Senators Angela Alsobrooks and Kirsten Gillibrand—her longtime partner in crypto legislative sponsorships—recognizing them as "honest brokers" during the bill's negotiations.
