Democrats 'chose visceral hatred for' Donald Trump over crypto Clarity Act, Lummis says
Summary
Senator Cynthia Lummis blamed Democrats’ opposition to President Trump for the Senate’s failure to advance a procedural vote on the Clarity Act, a bill defining SEC and CFTC oversight of crypto markets. She said the legislation was negotiated on a bipartisan basis and expanded to address Democratic requests, including bankruptcy protections. House lawmakers French Hill and Ritchie Torres said crypto market-structure legislation remains necessary, but Trump’s crypto ventures and memecoin have complicated bipartisan support. Hill called for renewed negotiations after the midterm elections; Torres said the bill could advance if debate focuses on industry regulation rather than Trump.
