Lummis Taps Tether Lawsuit for Clarity Act Push

Senator Cynthia Lummis is using a high-profile lawsuit over $42.4 million in frozen USDT tokens to push for passage of the CLARITY Act.

Lummis took to social media platform X on September 10, highlighting the limitations of current legislation regarding temporary transaction holds.

Citing Section 305 of the proposed bill, Lummis argued that it would protect issuers and exchanges from certain lawsuits involving frozen assets.

The lawsuit in question involves two Thai nationals who sued Tether in New York over $42.4 million in USDT frozen across two Ethereum addresses.