Lummis Cites Wyoming Model as Senator Pushes for CLARITY Act Advancement

Senator Cynthia Lummis is advocating for the advancement of the CLARITY Act in the Senate, set to hold a procedural vote on September 15. She argues that a clear regulatory framework can support crypto businesses without driving them out of the country.

Lummis points to Wyoming's early digital-asset rules as an example of how clearer regulation can be beneficial. The state has created a legal framework for digital assets companies years before federal lawmakers began building a national market structure, with over two dozen laws passed since 2018.

The proposed CLARITY Act would introduce digital asset classifications to determine which agency, the CFTC or SEC, will regulate particular categories. The bill also includes provisions for customer and developer protections, as well as disclosure requirements for some issuers of digital assets.