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Lummis: CLARITY Act Is Crypto's Last Regulatory Chance Before 2030
Senator Cynthia Lummis says the CLARITY Act is likely the last opportunity for US digital asset legislation before 2030. The bill passed the House in 2025 and awaits Senate action.
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Senator Cynthia Lummis does not mince words about the CLARITY Act. The Wyoming Republican, who chairs the Senate Banking Committee’s Subcommittee on Digital Assets, said on July 8 that the bill is likely the last real opportunity to get digital asset legislation on the books before 2030.
“This is likely our last chance to get real legislation for digital assets on the books before 2030,” Lummis said.
The bill in question is H.R. 3633. Its core purpose is something the crypto industry has been asking for since roughly the Obama administration: clear rules about who regulates what. The legislation draws jurisdictional lines between the SEC and CFTC, which have spent years arguing over which assets count as securities and which count as commodities. It also strengthens consumer protections and addresses illicit finance risks.
The House passed the CLARITY Act on July 17, 2025, with a vote of 294 to 134. As of mid-July 2026, the bill is awaiting its turn on the Senate floor. The Senate Banking Committee released an updated version of the bill text in May 2026, incorporating feedback from lawmakers, regulators, and industry players.