# Lummis Says Democrats Seek Ban on Crypto Exchanges Creating Tokens By Riza Dagoc Canonical URL: https://www.tokenpost.com/news/regulation/36527 Published: 2026-10-21T09:38:38.000Z Updated: 2026-10-21T09:38:38.000Z Section: Regulation > She described the proposed restriction as part of the debate over the CLARITY Act, which is intended to formalize rules for digital assets. Sen. Cynthia Lummis criticized Democrats over a proposed ban on exchanges creating tokens, adding a dispute over token issuance to the debate over the CLARITY Act and U.S. crypto rules. Lummis said Democrats wanted to prevent exchanges from creating tokens on their own. The CLARITY Act is intended to formalize rules for digital assets, and token creation is one issue in the broader policy debate. Lummis has also criticized Democrats over [proposed exchange filing and recordkeeping requirements]() in the CLARITY Act. ## Links in this article - [proposed exchange filing and recordkeeping requirements](https://www.tokenpost.com/news/regulation/35130)