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Crypto Bill Odds Slip to 40% as Warren, Lummis Clash on Illicit Finance
CLARITY Act passage odds slid from 64% to 40% on Polymarket. Lummis cites 16 safeguards; Warren warns of illicit finance loopholes. Window closes after August recess.
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The CLARITY Act's passage odds on Polymarket slid to 40% from 64% in June, a decline driven by Senator Elizabeth Warren's renewed attacks on the bill's anti-money-laundering provisions and a compressed Senate calendar.
Wyoming Senator Cynthia Lummis fired back. She pointed to more than 16 safeguards in the bill, including provisions in Sections 201, 303 and 305 that let exchanges freeze tainted assets, detail sanctions rules, and establish new anti-money-laundering requirements. "The Clarity Act has 16+ illicit finance safeguards, not loopholes," Lummis wrote on X.
Warren had warned that Iranian groups routed an estimated $3.84 billion through CoinEx. She argued the bill would dilute existing protections. "Congress should be strengthening illicit finance standards, not creating new loopholes," she said. Warren also called for provisions that would bar President Donald Trump and his family from profiting off the crypto industry. Trump's financial filings show World Liberty Financial took in more than $500 million selling governance tokens, and CIC Digital LLC earned over $600 million from Trump-branded meme coins.