Sen. Lummis Advocates for Crypto Clarity Act as Landmark Legislation
Senator Cynthia Lummis has positioned the Clarity Act as the most comprehensive crypto legislation in U.S. history, aiming to establish clear regulatory frameworks for stablecoins and digital assets. The Wyoming Republican emphasized the bill's potential to reshape the financial system through bipartisan collaboration.
Daily negotiations with Senate Democrats underscore the complexity of achieving consensus on a bill covering most crypto assets—not just stablecoins like its predecessor, the GENIUS Act. Lummis' team prioritizes building trust across party lines to avoid procedural roadblocks during committee votes.
Industry engagement has faced headwinds, with crypto executives' lobbying efforts hampered by disputes over DeFi regulation timelines and leaked documents. Some lawmakers criticized lobbyists for public critiques rather than behind-the-scenes problem-solving.
