Senator Cynthia Lummis Says CLARITY Act Would End Regulatory Uncertainty for Crypto
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U.S. Senator Cynthia Lummis said the CLARITY Act would help end regulatory uncertainty in the U.S. digital-asset industry, as markets watch whether the bill can move through the Senate.
Cointelegraph reported on May 22 that Lummis said the CLARITY Act "will end the regulatory ambiguity facing U.S. digital-asset consumers and the industry."
The CLARITY Act is a bill designed to reshape market-structure rules for U.S. digital assets. It includes provisions to clarify the division of oversight between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.
Lummis said crypto companies in the U.S. have faced uncertainty because of the lack of clear regulatory standards. She added that establishing a formal regulatory framework could support industry growth and strengthen consumer protection.
Markets are also watching whether passage of the bill would further integrate the U.S. crypto industry into the mainstream financial system. Still, overlapping congressional debate over the federal budget and other major legislation has raised the possibility that Senate consideration could be delayed.
