Lummis Links CLARITY Act Vote to Crypto Market Manipulation

Sen. Cynthia Lummis renewed her criticism of Democrats over the stalled Digital Asset Market Clarity Act, arguing it would address market manipulation as Congress debates federal oversight of digital assets.

Lummis criticized Democrats for voting against advancing legislation she said would address pump-and-dump schemes.

Lummis has raised similar objections over other proposed investor protections in the stalled bill.

On Sept. 15, the Senate rejected cloture on the motion to proceed, 49-50. The motion needed 60 votes, and one senator did not vote. Senators did not vote separately on market manipulation measures.

The CLARITY Act is intended to establish a federal framework for digital assets. Lummis, who chairs the Senate Banking Committee’s digital assets subcommittee, has previously highlighted other proposed protections, including safeguards for people who report crypto fraud. Her latest criticism focuses on trading abuses, while the bill remains stalled after the procedural vote.