The XRP market structure in the U.S. could gain regulatory clarity sooner than expected, as Senator Cynthia Lummis announced a major legislative milestone is approaching. Speaking at the SALT conference in Jackson Hole, Wyoming, Lummis confirmed that a finalized crypto market structure bill will land on President Donald Trump’s desk before the Thanksgiving holiday.

How the Crypto Market Structure Bill Is Progressing

Senator Lummis, a long-time advocate for cryptocurrency regulation, noted that the legislative efforts surrounding digital assets, including XRP, have hit a critical point. While prior expectations—such as the goal set by Senator Tim Scott for a September 30 deadline—were ambitious, Lummis emphasized that the updated target of delivering a bill by Thanksgiving is solid and achievable.

“We will have it on the President’s desk before Thanksgiving,” Lummis stated confidently from the SALT stage. Her earlier projections aimed for completion by the end of 2025, but recent progress suggests the process has accelerated considerably.

Senate Committees Align to Push Crypto Regulation Forward

According to Lummis, the bipartisan push for crypto regulation includes key milestones from both the Senate Banking and Agriculture Committees. She shared that the Senate Banking Committee intends to pass the bill by the end of September. Following that, the Senate Agriculture Committee—responsible for overseeing the Commodity Futures Trading Commission (CFTC)—is expected to review the legislation by the end of October.

This process would ideally pave the way for final approval and a presidential signature from Trump before year’s end, marking a transformative step for the digital asset ecosystem—including coins like XRP and platforms operating on blockchain frameworks.

Market Impact: Bipartisan Support Builds for New Rules

Senator Tim Scott, the chairman of the Banking Committee, added that as many as 18 Democratic senators could support the bill. This growing bipartisan consensus increases the likelihood that the Senate will successfully pass its own answer to the House’s Digital Asset Market Clarity Act.

Why does this matter? For tokens such as XRP, which have long existed in legal limbo, the pending legislation could define precisely how both the Securities and Exchange Commission (SEC) and the CFTC will regulate crypto markets. This could lead to improved investor confidence, clearer compliance standards, and broader institutional adoption.

Broad Implications for the Crypto Industry

The market structure bill represents one of the most comprehensive attempts to reconcile differing views on crypto oversight between U.S. regulatory bodies. By explicitly outlining jurisdictions for the SEC and CFTC, the legislation hopes to eliminate regulatory confusion and foster a more stable environment for innovation.

Although XRP, Ethereum, and other tokens have seen fluctuating guidance in recent years, a unified legislative framework would represent a major step forward. Stakeholders across the blockchain and fintech industries are closely watching the bill’s progress, hoping for a more favorable landscape.

Related: XRP Price: $12M Max Pain for Bears

To join ongoing discussions and stay informed, industry participants are invited to register for CoinDesk: Policy & Regulation on September 10 in Washington, D.C.