Lummis Warns Democrats: CLARITY Act Failure Will Be on Your Heads

Crypto regulation in the US is at a critical juncture as Senator Cynthia Lummis increases pressure on Democrats to pass the CLARITY Act before its September 15 procedural vote.

The latest version of the legislation, released on September 10, includes changes to DeFi regulation, CFTC registration requirements, and spot digital-asset transactions. Lummis' office says the text reflects bipartisan negotiations conducted during the August recess.

Lummis argues that if the CLARITY Act fails, Democrats should bear responsibility for the consequences because they helped shape a substantial portion of the current proposal. She points out that over 100 Democrat-requested changes would be wasted, and consumers would be left without federal protections.