Crypto Legislation Outlook: Lame Duck Congress Expected to Bring Few Surprises for the Industry

The final weeks of the outgoing US Congress are expected to be quiet for crypto. A session once seen as a chance to finish unfinished work now looks unlikely to deliver, with industry insiders saying lawmakers have largely moved on.

Lame Duck Session and the Clarity Act

Cody Carbone of the Digital Chamber sees little hope of real progress after the failed Digital Asset Market Clarity Act, noting a general moving on from lawmakers. Ryan Eagan of the Crypto Council for Innovation said a year-end spending package does not currently look like a “Christmas tree” for add-ons, though that could change.

SEC and CFTC Nominations Move Forward

President Trump nominated two people each to the SEC and the CFTC, including one Democrat for each agency. The Senate Banking Committee has set a hearing for the SEC picks, while the Agriculture Committee says the CFTC hearing will come soon. Analyst Jaret Seiberg expects confirmations before Congress adjourns. Both agencies will stay under Republican control until early 2029, so they can keep advancing the administration’s agenda on crypto, prediction markets and AI.

Data Center Permitting Bill and Bitcoin Mining

One bipartisan bill that speeds up federal permitting for data centers has cleared an early Senate hurdle, but it would make them pay full energy costs. Carbone said some miners accept that trade for faster permits, while others object to funding grid upgrades or paying higher rates states may impose.

Crypto Policy Outlook for the Next Congress

Nearly one in four members of the next Congress will be new, and Smith said the industry wants to be the first to brief them. Narrow ideas remain, including new tax treatment, expanded CFTC spot market powers, and revived Clarity talks on illicit finance and stablecoin yield. Past lame duck sessions in 2022 and 2024 also failed to deliver for crypto.