Lummis Warns US Congress of Consequences of Delaying CLARITY Act

Senator Cynthia Lummis has urged the US Congress to complete its review of the CLARITY Act, which aims to establish a regulatory framework for the cryptocurrency market. The senator emphasized that delays in passing the law could have severe consequences, including the loss of thousands of jobs and reduced tax revenues.

The CLARITY Act was approved by the US Senate Banking Committee in May 2026 with a vote of 15 to 9. However, the review process has been stalled, and the document is yet to be brought to a vote. Lummis warned that if the adoption of this document is postponed, the next real opportunity to bring market structure legislation back up may only arise in 2030.

The senator stressed the need for swift action on the bill, highlighting the potential benefits of completing work on it within the current session of Congress. She emphasized that every year of delay would result in lost jobs, investments, and tax revenue. President Donald Trump has also expressed support for the CLARITY Act, calling on Congress to back the bill.