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Sen. Cynthia Lummis urges swift passage of the CLARITY Act… “We must stop anti-crypto forces”
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Summary
- U.S. Sen. Cynthia Lummis said she is again urging the swift passage of the CLARITY Act, which would clarify regulation of digital assets.
- Lummis said the CLARITY Act is needed as a safeguard to counter the Biden administration’s regulation and anti-digital-asset figures such as Elizabeth Warren.
- She said the U.S. needs a clear and predictable regulatory environment to avoid falling behind in competition over digital assets and blockchain technology, noting that disagreements in Congress are delaying passage.
U.S. Republican Sen. Cynthia Lummis has once again called for the swift passage of the so-called “CLARITY Act,” which aims to clarify regulation of the digital-asset industry.
In a post on X (formerly Twitter) on the 23rd (Korea time), Lummis said, “Over the past four years, the Biden administration has tried to suppress the digital-asset industry by weaponizing regulation,” adding that “the CLARITY Act is legislation that institutionalizes safeguards that anti-digital-asset figures such as Sen. Elizabeth Warren cannot easily roll back.”
She stressed that “for the U.S. not to fall behind in the competition over digital assets and blockchain technology, it needs a clear and predictable regulatory environment,” warning that “if we don’t act now, it may be too late.”
The CLARITY Act is designed to reduce uncertainty across the industry by clearly defining the legal nature of virtual assets and oversight authority. Passage has been delayed as disagreements among stakeholders in Congress persist.
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