Senator Cynthia Lummis says the Clarity Act can still pass the Senate next week, but only if Democrats agree to further compromise. She dismissed reports that the bill is likely to fail, blaming Democratic demands rather than ethics concerns for the delay.
Republican Senator Cynthia Lummis pushed back on Tuesday against reports that the Clarity Act is headed for defeat, responding on X to a Semafor article that quoted Republican senators saying the crypto market structure bill was likely to fail when the Senate returns from recess next week. Lawmakers had hoped for a vote before their five-week break in August, but the vote was pushed to next week instead.
Lummis blames Democrats, not ethics concerns
Lummis argued that if the bill fails, the fault lies with Democrats rather than ethics questions. According to Bitcoin Magazine, Democrats are still demanding changes that could let future regulators "kill the crypto industry". Lummis added that a deal remains possible but requires further compromise from Democrats, not the White House. She had previously said the bill would die because of Democrats, echoing other pro-crypto lawmakers who accuse some politicians of deliberately stalling the legislation.
What the bill would change
The Clarity Act would divide regulatory oversight of digital assets, spelling out which tokens count as securities, commodities, or stablecoins. The House passed the bill last July, but it has since stalled in the Senate, largely because the banking lobby clashed with crypto companies over letting customers earn stablecoin yield.
A new draft began circulating in July that would ban government officials from promoting or profiting from crypto, addressing criticism Democrats had aimed at the Trump family. Even with those changes, a group of Democrats said the bill still fell short and pushed for further amendments. President Donald Trump urged lawmakers to pass the legislation in August, saying it was necessary for the United States to remain the leader in Bitcoin and crypto.
Source: Bitcoin Magazine
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