US Senator Cynthia Lummis, a leading advocate for digital asset legislation, expects the digital asset market structure bill to move to markup before Congress’ holiday break. At the Blockchain Association Policy Summit, Lummis emphasized the urgency to advance the Responsible Financial Innovation Act, despite the exhaustive bipartisan negotiations and earlier delays caused by government shutdowns and concerns over DeFi provisions.
Meanwhile, Paradigm co-founder Matt Huang described the current state of crypto as nearing its “Netscape moment,” signaling a major inflection point for mainstream adoption fueled by advancements in blockchain infrastructure and the expansion of regulated investment products. Huang draws parallels to how Netscape transformed internet usage, suggesting that cryptocurrencies are poised for a similar breakthrough as institutional and retail interest grows.
Adding to industry momentum, the US Commodity Futures Trading Commission (CFTC) announced a pilot program allowing futures commission merchants to accept Bitcoin, Ether, and USDC stablecoins as collateral in derivatives markets. This initiative aims to integrate digital assets into regulated financial systems by setting clear safeguards, enhancing risk management, and improving market efficiency with strict reporting requirements for participant firms.
Together, these developments highlight a critical phase for cryptocurrencies, blending regulation, innovation, and institutional acceptance, as the sector prepares for broader adoption and more robust market frameworks.