- Senator Cynthia Lummis confirmed she won’t run for reelection in 2026 after serving as a main advocate for digital belongings since 2020.
- Her legislative work included the Accountable Monetary Innovation Act and efforts to scale back tax burdens on small crypto purchases.
- Business leaders and officers credited her with efficiently pushing for clearer regulatory frameworks and difficult aggressive SEC enforcement.
It seems US Senator Cynthia Lummis received’t search reelection in 2026, and the crypto business has reacted to her choice, praising her position as considered one of Washington’s most seen advocates for digital belongings.
Lummis has been considered a distinguished voice in US crypto coverage debates since 2020. Not too long ago, Lummis proposed a brand new laws that will modernise the Inner Income Code of 1986 to ease the compliance burden on on a regular basis customers making low-value purchases.
This and different key initiatives have made business figures credit score her with pushing the dialogue towards clearer crypto guidelines. As an illustration, a16z’s head of presidency affairs, Collin McCune, mentioned in an X publish on Friday that the sector’s present place in Congress displays her work.
Thank You and Goodbye!
Multicoin common associate Greg Xethalis additionally highlighted her affect, pointing to her persistence in driving coverage priorities.
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In the course of the Biden administration, Lummis was a vocal critic of former SEC Chair Gary Gensler’s strategy to crypto enforcement. She backed proposals together with the Accountable Monetary Innovation Act and the continued US Readability Act, each geared toward defining regulatory duties and lowering uncertainty for digital belongings.
In her announcement on Friday, which drew practically 1 million views on X, Lummis mentioned she didn’t have one other six-year time period in her, describing herself as “a sprinter in a marathon.” White Home AI and crypto czar David Sacks known as her a key ally on crypto and mentioned he was sorry to see her depart.
Bitcoin advocate and Coin Tales host Natalie Brunell additionally thanked Lummis for serving to advance Bitcoin-related coverage efforts.
Associated: Crypto Market Structure Bill Gains Momentum as Senate Push Accelerates
The publish Crypto Industry Backs Cynthia Lummis as Pro-Bitcoin Senator Exits 2026 Race appeared first on Crypto News Australia.