Lummis Urges Democrats to Support Revised Crypto Market Structure Bill
Sen. Cynthia Lummis is urging Senate Democrats to support the CLARITY Act, a sweeping U.S. cryptocurrency market structure bill that remains short of the votes needed to advance. The legislation is scheduled for a potential vote on Sept. 15 and currently requires support from at least seven Democratic senators.
Democrats Sought More Than 100 Changes
Democratic lawmakers requested more than 100 changes to the bill during negotiations. Republicans incorporated many of those proposals into a revised draft spanning approximately 630 pages, according to the latest discussions surrounding the legislation.
Lummis has spent months working to move the bill through Congress. She has argued that Democrats helped shape the revised legislation and should now support its advancement.
Bill Faces Key Vote
The proposed legislation is intended to establish a broader regulatory framework for the U.S. cryptocurrency market. Its progress could clarify how digital assets are regulated and which federal agencies would oversee different parts of the industry.
Despite the revisions, the bill still faces a significant political hurdle. Seven Democratic votes are needed for it to clear the Senate, making bipartisan support essential ahead of the Sept. 15 vote.