Senator Cynthia Lummis is pressing the Senate to vote on the CLARITY Act before its August recess. Lummis has been working with Democrats to resolve several unresolved provisions in the bipartisan negotiations, which have been ongoing for nearly 11 months.
Regulatory Framework
Lummis argued that lawmakers should consider the crypto market structure bill before leaving Washington, citing the need for a clear regulatory framework to prevent digital-asset companies from moving their operations outside the United States.
Negotiations Continue
Negotiations continue around ethics restrictions, illicit-finance safeguards, stablecoin rewards, and the division of regulatory authority between the Commodity Futures Trading Commission and the Securities and Exchange Commission. Democrats have sought stronger restrictions preventing senior government officials from profiting from crypto ventures and have raised questions about anti-money-laundering protections.
