Lummis Slams Democrats Over Clarity Act as August Recess Looms

Senator Cynthia Lummis took the Senate floor Wednesday to accuse Democratic colleagues of stalling the Clarity Act, a bipartisan bill that would create federal rules for cryptocurrency markets.

“This is a very good bill: good for the country, good for consumers, and good for the people we all represent on both sides of this aisle,” Lummis said. “And after 11 months of giving nearly everything that was asked of us, I am genuinely struggling to understand what else my colleagues across the aisle think it needs before we act.”

The Wyoming Republican, known as the “Bitcoin Senator” for her long-standing crypto advocacy, is the latest lawmaker to push for the legislation as the August recess approaches. Fellow Republican Joe Haridopolos warned earlier this month that further delays risked ceding U.S. leadership in crypto.

The Clarity Act passed the House last year with strong bipartisan support but has been stuck in the Senate. Banking industry concerns over stablecoin yield were partially responsible for the bottleneck, lawmakers and lobbyists said. An updated version introduced last week added ethics provisions banning government officials and their families from issuing or promoting crypto.