Lummis Renews Push for CLARITY Act Before Leaving Senate

Sen. Cynthia Lummis is renewing her push for the Digital Asset Market Clarity Act as she prepares to leave the Senate after her current term, saying clearer rules are needed to keep digital-asset innovation and jobs in the United States.

The bill would create a federal framework for digital-asset markets involving the Securities and Exchange Commission and Commodity Futures Trading Commission. It would also establish rules for the offer and sale of digital commodities.

The Senate rejected cloture on a motion to proceed to H.R. 3633 on Sept. 15. The vote was 49-50 at 2:19 p.m. ET (18:19 UTC), with one senator not voting. The motion required 60 votes, or three-fifths approval.

Lummis has warned that unclear policy could push digital-asset innovation and jobs overseas. She has also emphasized the need for bipartisan support as negotiations continue.

The Senate Banking Committee approved the bill 15-9 in May. After the Sept. 15 vote, senators entered a motion to reconsider, preserving a possible route to renewed Senate consideration.

Lummis chairs the Senate Banking Committee’s digital-assets subcommittee and is not seeking another six-year term. The legislation remains unresolved amid changes among lawmakers and regulators involved in U.S. crypto policy.

The bill’s market-structure provisions remain unsettled. A previous version included 126 substantive changes requested by Democrats, including ethics provisions, state attorney general enforcement authority, Treasury authority related to payment-stablecoin deposit flight and protections for software developers.

Lummis previously said the bill was ready after a year of intense daily bipartisan negotiations. The Senate’s next action would determine whether lawmakers can resume consideration of the measure.