Lummis Battles Warren Over Crypto Regulation Bill
A contentious Senate debate over crypto regulation is unfolding in Washington.
Senator Cynthia Lummis has pushed back against a fact sheet released by Senator Elizabeth Warren's office, which criticized the Trump-Republican ethics legislative language in the CLARITY Act.
Lummis argued that the bill's blind trust provisions effectively restrict President Trump from disclosing his crypto holdings to himself. She pointed out that 5 U.S.C. §13104(f)(3)(A) and 5 C.F.R. 2634.403 bar a trustee from communicating with interested parties, including the president.
Warren's office claims that enforcement gaps in the bill allow Trump to continue profiting from his crypto ventures, which they estimate earned him over $1.4 billion in 2025 alone.
The CLARITY Act aims to establish clear regulatory guidelines for the digital asset industry and has been stalled in Congress since its introduction.