Lummis Warns US Crypto Rules Remain Broken as CLARITY Fight Stalls
U.S. Senator Cynthia Lummis (R-WY) is renewing her push for the CLARITY Act as Senate action stalls, expressing frustration over its stalled progress. In an Aug. 7 post on X, Lummis stated she remains determined to advance the legislation, which would establish digital asset market rules, strengthen customer protections, and give federal authorities clearer enforcement powers.
“You all know me and how long and hard I’ve fought for this bill, so you can imagine how frustrated I am. There will be a time when I can say more, but for now, let me say this: we’ve come too far to quit now,” Lummis said.
As chair of the Senate Banking Subcommittee on Digital Assets, Lummis has been a key figure driving the CLARITY Act. Just two days before her statement, she expected senators to remain in Washington through the weekend to secure a vote before the August recess. However, Senate Majority Leader John Thune (R-SD) confirmed the chamber would delay a vote until September.
Consumer protection is a major component of Lummis’ case. She argued that Americans need stronger safeguards against scams and clearer rules for legitimate businesses. The legislation would treat covered customer cash and crypto as customer property, require segregation from company assets, and address ownership disputes highlighted by the Celsius bankruptcy, which involved roughly 600,000 Earn accounts holding about $4.2 billion.
Congress has already seen bipartisan movement on the proposal. The Senate Banking Committee advanced H.R. 3633, the Digital Asset Market Clarity Act of 2025, by a 15-9 vote on May 14. More than a year after the House approved the legislation, Senate action remains central to whether comprehensive federal market-structure standards become law.
Lummis has warned that if lawmakers fail to complete the legislation during the current window, another realistic opportunity could slip toward 2030. Legislative work continued ahead of the latest slowdown, with Lummis releasing updated CLARITY Act text on July 22 combining work from the Senate Banking and Agriculture committees.
The focus now shifts to whether Lummis and other senators can turn months of negotiations into broader congressional support when the Senate returns in September.