Lummis Warns Delaying Clarity Act Will Set Crypto Back Until 2030

U.S. Senator Cynthia Lummis has sounded the alarm over the delay of the CLARITY Act, warning that failure to pass it in this Congress could push the next real opportunity for crypto market structure legislation until 2030.

The bill aims to clear up regulatory confusion around digital assets and set out rules for deciding whether a digital asset is a security or a commodity. It has already passed the House of Representatives but remains stalled in the Senate, where Democrats are demanding ethics provisions be included before they will support the bill.

Lummis emphasized that failure to pass the CLARITY Act now would mean years of lost opportunity for jobs, investment, and tax revenue. The Senator tweeted on September 6: 'If we finish processing this bill now, we can avoid wasting years of opportunity in terms of jobs, investment, and tax revenue.'

A procedural Senate vote is set for September 15, but final passage before the November midterms is seen as unlikely.