Lummis Pressures Democrats on CLARITY Act Vote

Senator Cynthia Lummis is putting pressure on Senate Democrats to support the CLARITY Act, arguing that they have 'written the fix' and must pass it.

The bill would split oversight between the SEC and CFTC, adding registration, disclosure, and customer asset safeguards. In a recent post, Senator Lummis stated that over 100 Democratic changes were incorporated into the revised legislation.

Lummis warned that if the CLARITY Act fails, consumers will have 'zero federal protection', no disclosure rules, and no delisting requirements for bad actors.

The September 15 procedural vote is crucial as it determines whether Congress advances comprehensive cryptocurrency market structure legislation before the November midterm elections. Supporters still need bipartisan backing, requiring 60 votes in the Senate.