Speaking to CNBC, Senator Cynthia Lummis said major banks are trying to block the Clarity Act because they cannot compete, while also arguing that Bitcoin will be part of the financial system.
Senator Cynthia Lummis told CNBC that JPMorgan and other banks are attempting to stop the Clarity Act, saying they cannot compete. She also said Bitcoin will be the financial system. The statement frames the debate as part of a broader clash between traditional banks and the digital asset sector, with the Clarity Act presented as a crypto-related legislative issue.