Lummis Warns of U.S. Crypto Exile Without Swift Action on CLARITY Act

U.S. Senator Cynthia Lummis has renewed her call for swift action on the CLARITY Act, warning that without clear rules for digital assets, innovation and investment will move overseas.

Lummis argues that companies and developers won't wait for policymakers to debate regulations, they'll simply relocate to jurisdictions with greater certainty.

The proposed framework would divide oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), supporters believe, eliminating years of uncertainty and complexity in crypto business operations.

The legislation has passed the House of Representatives with strong bipartisan support and advanced through the Senate Banking Committee in May 2026. Lummis expects it to reach the Senate floor next month, after lawmakers finalize the bill's language during the July 4 recess.