Lummis Warns of Lost Opportunity as CLARITY Act Deadline Looms

Wyoming Senator Cynthia Lummis has renewed her warning that Congress is squandering its best chance at passing comprehensive digital asset legislation this decade. The Digital Asset Market Clarity Act, or CLARITY Act, has been a topic of discussion in the Senate, with industry leaders predicting it will become law soon.

Lummis stated on social media that the CLARITY Act is Congress's closest effort yet to establish a digital asset market structure framework. She emphasized that momentum like this won't return again this decade, and missing this opportunity could push jurisdiction over crypto policy towards lawmakers less favorable to the industry.

The Senate returns from recess on Monday, leaving roughly three working weeks before the August break. Industry voices, including Coinbase's Vice Chair Ryan VanGrack and Galaxy Digital CEO Mike Novogratz, have echoed Lummis' urgency, stating that the bill is close to passing and only a small number of disputes need to be resolved.