Republican Senator Cynthia Lummis criticized Democrats over the Clarity Act, saying that if the bill fails, it will be because they refused to join Republicans in supporting a bipartisan text protecting consumers and cementing U.S. leadership in digital assets. She accused Democrats of demanding changes that could empower future regulators to undermine the crypto industry. The Clarity Act aims to establish a regulatory framework distinguishing digital assets as securities, commodities, or stablecoins. Passed by the House of Representatives last July, the bill has stalled in the Senate largely due to a conflict between the banking lobby and crypto companies over stablecoin yield. President Donald Trump has urged lawmakers to pass the legislation to maintain U.S. leadership in Bitcoin and crypto.
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