Lummis Calls for Action on CLARITY Act Amid Bipartisan Negotiations

Senator Cynthia Lummis is urging lawmakers to move forward on the CLARITY Act, a bill aimed at providing regulatory clarity for the crypto market. The legislation has exceeded 600 pages after nearly 11 months of bipartisan negotiations and revisions.

Lummis said the bill includes over 100 compromises made during negotiations involving lawmakers from both parties. Despite this, the CLARITY Act still faces resistance in the Senate.

The senator pointed out that major financial institutions such as Fidelity and Goldman Sachs support the legislation. Additionally, the National Fraternal Order of Police has endorsed the bill after previously expressing concerns about its impact on cryptocurrency investigations.