Lummis Warns of Regulatory Gridlock as CLARITY Act Hits Stumbling Block

Sen. Cynthia Lummis (R-WY) is pressing for passage of the CLARITY Act before its August recess, stating that the current US regulatory framework for digital assets 'is not working'.

Lummis has been a key advocate for the bill, which would split oversight of digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The senator argues that the patchwork of existing rules governing digital assets fails everyone it touches, including companies building in the space, everyday holders, and law enforcement.

Prediction markets have put the odds of CLARITY becoming law in 2026 at roughly 30%, down sharply from above 80% in February.