Senator Cynthia Lummis, who represents Wyoming in the U.S. Senate and is known for her advocacy on digital asset policy, shared several updates on September 30, 2025 regarding the regulatory landscape for digital asset custodians.
In a post made at 7:46 p.m. UTC, Lummis wrote: “More below. https://t.co/wJxRDOX8IA”.
Later that evening, at 9:07 p.m. UTC, she stated: “Encouraged to see @SECGov recognizing state-chartered trust companies as qualified digital asset custodians. WY paved the way in 2020 by issuing landmark no-action relief, & was criticized by SEC staff. They finally recognized the rigor & value of WY’s digital asset supervision. https://t.co/VLJcNwicJx”.
In a follow-up tweet posted seconds later, she provided further context by sharing: “The SEC’s criticism: https://t.co/ctKsewB95U”.
Wyoming has been recognized as a leader in digital asset regulation since it issued significant no-action relief for state-chartered trust companies in 2020. This move positioned Wyoming as one of the first states to establish a clear legal framework for entities providing custody services for cryptocurrencies and other digital assets. The Securities and Exchange Commission (SEC) had initially expressed concerns about this approach but has recently acknowledged the standards set by Wyoming’s oversight regime.
