Lummis Blasts Democrats Ahead of Clarity Act Vote — But Adds Bill Can Get Passed

According to Bitcoin Magazine, Republican Senator Cynthia Lummis stated that the crypto Clarity Act can still be passed, but it will require further compromise from Democrats. Writing on X, Lummis criticized Democrats ahead of a procedural cloture vote in the U.S. Senate scheduled for the following week. She stated that if the bill fails, it would be because Democrats did not join Republicans in embracing a bipartisan bill to protect consumers, cement American leadership in digital assets, and empower law enforcement against illicit finance. Lummis previously stated that failure would rest on Democrats demanding changes that could allow future regulators to kill the crypto industry. The legislation drafts a framework to divide oversight between regulators to distinguish securities, commodities, and stablecoins. Having passed the House of Representatives in July of the prior year, the bill stalled amid clashes between the banking lobby and crypto companies regarding stablecoin yield. A newer draft addressing ethics circulated in July, though a group of Democrats sought further amendments. President Donald Trump previously urged lawmakers to pass the legislation to maintain U.S. leadership in Bitcoin and crypto.