Lummis Backs CLARITY Act to Define Crypto Rules

Senator Cynthia Lummis threw her weight behind the CLARITY Act on Monday, calling it a step toward clear rules for digital assets. The bill passed the House and cleared the Senate Banking Committee. It now needs a full Senate vote and the president's signature.

The Digital Asset Market Clarity Act of 2025 sets lines between SEC and CFTC jurisdiction over tokens. It also shields non-custodial software developers from liability. Lummis, a Wyoming Republican, said the legislation gives market participants a framework without stifling innovation.

The next step is a Senate floor vote. No date has been set. The chamber's schedule before the August recess will determine whether the bill advances this year.