Lummis Warns Delaying Crypto Regulation Could Push 2030 Timeline

Senator Cynthia Lummis has issued a warning about the potential consequences of delaying the CLARITY Act, which aims to establish a comprehensive regulatory framework for cryptocurrencies in the United States. If the bill does not advance in the current legislative session, it is likely that the U.S. will not have clear laws governing crypto assets before 2030.

The lack of a statutory framework would make it difficult for institutional compliance teams to approve trading desks in crypto assets, leading to a loss of institutional liquidity in U.S. spot markets. This could have significant consequences for the development of the U.S. cryptocurrency market.