Lummis Sees Big Price Gains for Bitcoin with CLARITY Act Passage
US Senator Cynthia Lummis believes that if the CLARITY Act passes, it could create a legal foundation for banks to hold digital assets, including Bitcoin. She thinks this would lead to significant price gains for Bitcoin.
Lummis made these comments in an interview with Bloomberg Crypto, highlighting provisions in the bill that allow federally chartered banks to provide custody, lending, and brokerage services related to digital assets. The act also permits banks to hold digital assets on their own balance sheets for risk management and liquidity purposes.
The CLARITY Act is currently being considered by the US Senate, with a cloture vote scheduled for September 15. However, Democrats are seeking further revisions due to concerns about ethics provisions and stablecoin regulations.