Senator Lummis Calls “Clarity Act” the Largest Crypto Bill in U.S. History

U.S. Senator Cynthia Lummis has described the new Clarity Act as the most significant crypto legislation in American history — a long-awaited framework that aims to establish clear, comprehensive rules for cryptocurrencies and stablecoins after years of uncertainty.

Ending the Regulatory Chaos The Republican senator from Wyoming said her team is working daily to build bipartisan support, emphasizing that this bill could reshape how the U.S. approaches digital assets while strengthening financial stability. “This is a landmark bill that will finally give the crypto industry a set of clear rules. Instead of regulatory confusion, it will provide a framework that protects investors, encourages innovation, and enables fair competition,” Lummis said. Unlike the earlier GENIUS Act, the Clarity Act covers all crypto assets, not just stablecoins — making bipartisan cooperation essential to pass every section of the legislation.

Crypto Industry Pushes for Passage Before Year-End In recent weeks, several high-level meetings have taken place in Washington between lawmakers and leaders of major crypto companies. However, discussions have slowed due to leaked documents on DeFi regulation and frustration among some senators about aggressive lobbying tactics. Despite these hurdles, Lummis insists the process is on track and hopes for a Senate Banking Committee vote before the end of the year, allowing full Senate debate to begin in early 2026.

A Game Changer for Banks and Exchanges Under the proposed framework, the SEC and CFTC would act as primary regulators under a new ACT structure, clearly defining which assets qualify as securities and which as commodities — a key issue that has long plagued the U.S. crypto market. The law would also allow community banks to legally provide digital asset custody and management services, enabling them to compete fairly with crypto exchanges. Lummis referenced the Custodia Bank case in Wyoming, where the court denied access to the Federal Reserve payment system. She noted, however, that the Fed’s creation of a “narrow master account” for specialized banks signals growing recognition of crypto’s importance in the financial system.

Bitcoin Reserve as a Path to Debt Reduction On X, Lummis reaffirmed her belief that a Strategic Bitcoin Reserve (SBR) could help the U.S. tackle its $38 trillion national debt. “I truly believe that a Strategic Bitcoin Reserve is the only way to stabilize our nation’s finances. I applaud the president and his administration for embracing the SBR,” she wrote. According to her projections, if held for 20 years, such a reserve could reduce U.S. national debt by half, leveraging Bitcoin’s scarcity, durability, and long-term appreciation. Senator Lummis remains one of the most influential voices shaping America’s crypto policy. If the Clarity Act passes, the United States could position itself as a global leader in transparent, fair, and innovation-friendly digital asset regulation.

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