Lummis Logs Overtime on Clarity Act as Senate's August Recess Clock Ticks �

Senator Cynthia Lummis said bipartisan negotiations on the CLARITY Act are continuing on a daily basis, as Senate leaders plan to bring the crypto market structure bill to a procedural vote before the August recess. In a Fox Business interview, Lummis said lawmakers have been negotiating the legislation for nearly 11 months and that Senate Majority Leader John Thune has reserved time on the chamber's agenda for several weeks to consider the bill.

Lummis wrote on X that she is "continuing to work with Democrats every day on the Clarity Act," and added, "I worked late last night on the CFTC portion of the bill and I'm proud that @POTUS has gone further than any president in history to protect ethics." She urged lawmakers to back the measure, saying it would "provide a clear regulatory framework and keep this industry here in the United States."

Unresolved provisions include ethics rules, the scope of CFTC authority over digital asset markets, and enforcement mechanisms, according to Lummis's remarks. Supporters of the bill have cited the legislation's role in establishing a federal framework for crypto market structure as a reason for Senate action before the recess deadline. Lummis said she believes Thune intends to move forward with the bill despite the outstanding issues.