Lummis bans federal officials from issuing digital assets in a revised Clarity Act, aiming for a Senate deal within days as the August recess approaches.
Alpha Score of 35 reflects weak overall profile with weak momentum, weak value, poor quality, moderate sentiment.
Sen. Cynthia Lummis released an amended draft of the Clarity Act on Wednesday that bans federal officials from issuing or sponsoring digital assets. The Wyoming Republican said she wants a deal with Democratic senators within days.
The amendment directly addresses reservations Democrats had about President Donald Trump's involvement with crypto ventures. Those concerns were among the hurdles reported July 17 as the bill faced the risk of stalling before the Senate's August recess.
"I want to thank my Democratic colleagues for their important contributions to this draft, and express my commitment to reaching a deal in the coming days," Lummis said in a Wednesday post on X.
The revised bill bans all federal officials, including the president, from issuing or sponsoring a digital asset for profit, with enforcement and penalties attached. Lummis credited Trump directly, saying the president had chosen "a higher standard of ethics than the law required of him."
The official account for Republican staff of the Senate Banking Committee said the bill "protects investors, combats illicit finance, and keeps innovation in America."
Coinbase CEO Brian Armstrong said the Clarity Act is ready for a full Senate floor vote. He described it as a bipartisan compromise reached after thousands of hours of work on both sides, providing a federal framework for crypto with consumer protections and law enforcement tools.
"We, with fingers crossed, I think in the next few weeks, we have a good chance of getting this bill to the full Senate floor," Armstrong said in a video included in his post.
The bill's path remains tight. The Senate calendar is compressing ahead of the August recess and the 2026 midterm cycle is starting to shorten the legislative window.
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