Lummis Seeks Senate Action on CLARITY Act Before Deadline

U.S. Senator Cynthia Lummis (R-WY) is pushing for Senate action on the CLARITY Act before the August break, emphasizing its potential to protect consumers and combat illicit finance.

The bill aims to define SEC and CFTC oversight, establish rules for crypto intermediaries, and include provisions on AML compliance, developer protections, and ethics. Senator Lummis thanked Senator Darline Graham (R-SC) for her support on the bill, saying it's 'past time' for the Senate to send legislation to the president.

Senate Majority Leader John Thune (R-SD) has indicated he intends to keep the Senate in session until it addresses a full slate of unfinished business, including a continuing resolution and a Russia sanctions measure. Negotiations continue on key provisions related to ethics rules, the Blockchain Regulatory Certainty Act, and sections of the Senate Agriculture Committee text.