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Add as a preferred source on GoogleLummis Accuses Democrats of Leaving Clarity Act Token Loophole Open
Lummis said the gap could let projects package stock-like interests as crypto tokens. The bill aims to clarify when tokens qualify as securities.
Sen. Cynthia Lummis accused Democrats of voting to leave open a Clarity Act loophole that could let projects package stock-like interests as crypto tokens, complicating how those assets are classified.
The bill is intended to clarify when crypto tokens qualify as securities. Lummis has backed clearer crypto rules, arguing they should protect investors while supporting innovation.
The accusation follows her earlier criticism of Democrats over a Clarity Act vote.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.