Wyoming Senator Cynthia Lummis, a prominent figure in the U.S. Congress and a vocal proponent of cryptocurrency, has announced she will not seek reelection in 2026. Lummis, a Republican, made the announcement on Friday via a post on X, stating that she will retire from the Senate in 2027.
Elected to a six-year term that began in January 2021, Lummis quickly became known for her focus on blockchain technology and Bitcoin, aligning with U.S. President Donald Trump's crypto agenda. However, Lummis stated that the demanding nature of the current session led to her decision not to run for reelection. “Deciding not to run for reelection does represent a change of heart for me, but in the difficult, exhausting session weeks this fall I've come to accept that I do not have six more years in me," Lummis said. "I am a devout legislator, but I feel like a sprinter in a marathon. The energy required doesn't match up”. At 71 years old, Lummis is the fifth Republican senator to opt out of running for reelection in 2026.
Lummis' departure opens up the race for her Senate seat, though it is widely expected to remain in Republican control. Potential candidates for the Republican primary, slated for August, are yet to emerge, though Rep. Harriet Hageman is rumored to be a possible contender.
During her time in the Senate, Lummis has been a leading voice on cryptocurrency legislation. In 2022, she and Senator Kirsten Gillibrand introduced bipartisan legislation aimed at creating a regulatory framework for digital assets. Known as the Responsible Financial Innovation Act, the bill seeks to clarify legal issues, protect investors, and encourage the growth of the crypto industry. A key provision of the bill would exempt personal cryptocurrency transactions under $200 from capital gains tax, making everyday use of digital assets more practical.
Lummis also introduced digital asset tax legislation that addresses major taxation issues, including a $300 de minimis rule. This provision aims to reduce the compliance burden for ordinary users by recognizing the impracticality of tracking every small digital asset transaction. The legislation also seeks to end the double taxation of digital asset miners and stakers and provide parity with other financial assets. The Congressional Joint Committee on Taxation estimates that Lummis's legislation would generate approximately $600 million in net revenue during the 2025-2034 budget window.
Before her election to the Senate, Lummis represented Wyoming's at-large House district from 2009 to 2017. During that time, she helped revive the Congressional Western Caucus, a group of lawmakers who address issues affecting the Western region, such as water rights, energy production, and federal land management.
Lummis' announcement marks the end of a significant chapter in her career and raises questions about the future of cryptocurrency regulation in the Senate. While she will not be seeking reelection, Lummis has expressed her commitment to retaining Republican control of the Senate.
