Lummis Says CLARITY Act Would Put Binance in Covered-Person Category

Sen. Cynthia Lummis said the CLARITY Act would place Binance in a covered-person category because the exchange provides digital-asset services.

The measure has passed the House but remains stalled in the Senate. A September cloture vote failed to advance it, leaving U.S. crypto-market rules uncertain.

The bill is intended to establish a federal regulatory framework for digital assets. The classification Lummis described remains a proposed treatment under legislation that has not passed.