Lummis Calls for CLARITY Act Vote Before August Recess

Senator Cynthia Lummis is urging her colleagues to vote on the CLARITY Act before the August recess, as bipartisan negotiations continue over several unresolved provisions. The bill needs 60 Senate votes to overcome the chamber's cloture threshold.

Lummis said lawmakers are negotiating the bill daily, with talks focused on CFTC authority, ethics rules, illicit finance, and stablecoin yield. She argued that lawmakers should consider the crypto market structure bill before leaving Washington.

The senator stated she has been working daily with Democrats on the Clarity Act, citing her efforts to resolve differences between Republicans and Democrats on provisions overseen by the Commodity Futures Trading Commission.

Lummis emphasized the need for clear rules to prevent digital-asset companies from moving their operations outside the United States, warning that regulatory uncertainty could push more crypto activity toward jurisdictions like Switzerland and Singapore.