Senator Lummis Pushes CLARITY Act as Senate Weighs Crypto Market Rules

Senator Cynthia Lummis has urged lawmakers to pass the Digital Asset Market Clarity Act (CLARITY Act), calling it important for maintaining U.S. leadership in financial innovation. The bill, known as H.R. 3633, was approved by the House in July 2025 and advanced by the Senate Banking Committee in May 2026. The legislation would divide oversight of digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), providing clearer rules for the industry. Supporters say it would reduce regulatory uncertainty and improve investor protection, while critics want stronger consumer safeguards. The bill must still clear Senate reconciliation, win at least 60 votes in the full Senate, and receive presidential approval before becoming law.