Lummis urges Democrats to back CLARITY Act
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- Senator Cynthia Lummis has urged Democrats to support the final CLARITY Act draft.
- The bill includes 126 changes requested by Democratic negotiators.
- The Senate is set to hold a key vote on the bill today.
Senator Cynthia Lummis has urged Senate Democrats to support the final Digital Asset Market CLARITY Act draft.
The bill includes 126 changes requested by Democratic negotiators after more than a year of talks.
“If my Democratic colleagues are truly concerned about the president’s crypto investments, then passing this bill — not blocking it — is the way to address that,” said Lummis.
The final draft includes rules requiring covered officials to divest certain digital assets or place them in a blind trust.
Lummis has warned that rejecting the bill could push crypto companies, investment and jobs towards London, Singapore and Abu Dhabi.
The draft also adds changes covering developer protections, stablecoin rules and state enforcement of ethics provisions.
The Senate is scheduled to vote on the bill today, with 60 votes needed to end debate and move the legislation forward.
