Key Takeaways:
Senator Cynthia Lummis accused Democrats of blocking the crypto Clarity Act for 11 months despite incorporating more than 100 of their requested changes.
Republican Senator Cynthia Lummis on Wednesday said Democrats have held back the long-awaited crypto Clarity Act for 11 months, accusing them of last-minute changes that could have been raised weeks or months ago. The Wyoming Republican, known as the "Bitcoin Senator" for her pro-crypto record, made the remarks on the Crypto in America podcast Thursday.
"This messing around, this pussyfooting around with, I want to change this, no, I want to change it back, I like the House version, no, let's go with the Senate version, and then bringing last minute changes to this bill that could have been brought weeks ago — in fact, months ago — is absurd, and I'm just tired of being played," Lummis said.
The bill, formally known as the Digital Asset Market Clarity Act, has grown from about 300 pages to nearly 700 pages, with most additions made at Democrats' request, according to Lummis. An updated version introduced last week addressed ethics concerns by banning government officials and their families from issuing or promoting crypto. The bill passed the Senate Banking Committee in May with a 15-9 vote but has not yet reached the full Senate floor.
"This is a very good bill: good for the country, good for consumers, and good for the people we all represent on both sides of this aisle," Lummis said on the Senate floor Wednesday. "And after 11 months of giving nearly everything that was asked of us, I am genuinely struggling to understand what else my colleagues across the aisle think it needs before we act."
The Clarity Act would create a regulatory framework for digital assets by dividing oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Major financial institutions, lawmakers and companies have backed the bill, though a group of Democrats said last week the current version falls short. The bill stalled for much of 2026 partly because the banking lobby raised concerns over stablecoin yield, according to people familiar with the matter.
Lawmakers are racing to pass the bill before Congress departs for August recess, though Senate leaders have conceded there may not be time for a floor vote. Prediction market odds on passage have slipped to 27.5% from 30%, according to Vera data. Observers are watching for an announcement from Senate Majority Leader John Thune, who may schedule the bill for floor consideration.
The timing of Lummis' remarks coincides with a separate incident Wednesday in which her verified X account was briefly hacked to promote a fake Solana meme coin called $USA Token. The posts appeared for about five minutes before being deleted, reaching roughly 5,600 views. Lummis' office had not issued a statement on the breach at the time of publication. The hack underscores the security risks facing high-profile crypto advocates on Capitol Hill as the regulatory debate continues.
Lummis helped draft the Bitcoin Act for a strategic bitcoin reserve and co-sponsored the GENIUS Act to regulate stablecoins in 2025. If the Clarity Act fails to pass before recess, the legislation would face an uncertain path in the fall session with the midterm elections approaching.
This article is for informational purposes only and does not constitute investment advice.
