Lummis: no CLARITY Act now means waiting until 2030

If the US Congress does not pass the CLARITY Act in the current session, the next opportunity for broad crypto market structure legislation will slip to 2030. That is according to Senator Cynthia Lummis, one of the most outspoken crypto advocates in the Senate. In her view, any delay would cost years of jobs, investment and tax revenue that the US cannot afford to lose.

In brief:

• Senator Lummis warns that the CLARITY Act must be passed during this Congress, otherwise the next opportunity will not come until 2030.
• In her view, delay would mean the loss of jobs, investment and tax revenue.
• The bill is intended to codify the market structure for digital assets in the US.

Lummis puts pressure on Congress

Senator Lummis shared her stance on X, where she linked the importance of the CLARITY Act to the economic consequences of inaction.

The CLARITY Act is a bill designed to regulate the division of authority between the US securities regulator, the SEC, and the commodities watchdog, the CFTC, over digital assets. Such a clear division is currently missing, which creates uncertainty for companies and investors in the crypto sector.

Next chance only in four years

Lummis argues that the political agenda after this Congress will leave no room for this kind of legislation until 2030. Anyone who fails to act now will therefore have to wait at least four years for a new opening.

The senator emphasises that this is not only about the crypto sector, but also about broader economic interests. Jobs in the technology and financial sectors, foreign investment and tax revenue that would otherwise flow to other countries are at stake, she says, if the legislation is left to languish.