CLARITY Act Passage Crucial for US Crypto Regulation Says Senator Lummis

Senator Cynthia Lummis has warned that failure to pass the CLARITY Act could push the next major opportunity for US crypto market-structure legislation to 2030.

The Senate is scheduled to hold a 60-vote cloture test on September 15 to begin debate. The bill, if passed, could help protect customers through qualified custodians and require the Securities and Exchange Commission (SEC) to provide clearer guidance on digital assets.

Lummis emphasized that the passage of the CLARITY Act is crucial for the development of a clear regulatory framework in the US crypto market. Without it, the next opportunity for major legislation could be delayed until 2030.