Sen. Cynthia Lummis Says CLARITY Act May Not Get Another Shot Until 2030

U.S. Senator Cynthia Lummis called for swift passage of the CLARITY Act, as markets track the political debate over creating a regulatory framework for digital assets in the U.S.

Lummis told crypto-focused media outlet U.Today on May 29 that if Congress fails to act now, the chance to pass the CLARITY Act may not come again until 2030.

“If we miss this session, the next chance will be 2030,” she said. Until then, developers would remain exposed without legal protections, while law enforcement agencies would lack sufficient tools to hold bad actors accountable.

The CLARITY Act can solve both problems, she added.

The bill would shift oversight of digital-asset regulation away from the Securities and Exchange Commission and toward the Commodity Futures Trading Commission. It also aims to clarify the regulatory framework for decentralized finance, or DeFi, and stablecoins.

The measure has recently sparked clashes in Congress involving the crypto industry, the banking sector, and lawmakers from both parties. Market participants view its fate as a key variable for the future growth of the U.S. digital-asset industry and its entry into the mainstream financial system.