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Senator Cynthia Lummis says clear crypto rules would protect U.S. investors

Senator Cynthia Lummis says clear crypto rules would protect U.S. investors

Lummis said the CLARITY Act would pair a clearer U.S. crypto framework with $150 million for digital-asset crime tracking, while a revised Senate draft adds insider-trading and market-structure changes.

Fact Check
The core numeric claim is confirmed verbatim by Lummis's own X post (@SenLummis): the CLARITY Act delivers $150 million for law enforcement to track scammers and bad actors in the digital asset space. The official Senate Banking Committee 'The Facts: The CLARITY Act' page confirms the bill pairs a clearer regulatory framework with investor protections and limits on insider abuse, supporting the framing that clear rules would protect U.S. investors. The Senate market-structure draft and the H.R.3633 bill text confirm insider-trading provisions and market-structure changes. All major elements of the claim are independently corroborated by primary government and official sources, with only minor paraphrase differences.
Summary

Senator Cynthia Lummis said clear, predictable cryptocurrency rules are meant to protect Americans who want to participate in the sector, not just help the industry or large institutions. She also said the CLARITY Act would provide $150 million to help law enforcement track fraudsters and other criminals in digital assets. Her remarks came as the Senate Banking Committee released its first updated full draft of the CLARITY Act since January, adding an insider-trading section and revising definitions, SEC authority, DeFi and CeFi boundaries, and bankruptcy and insolvency provisions.

Terms & Concepts
  • CLARITY Act: A U.S. digital asset market structure bill.
  • DeFi: Decentralized finance using blockchain-based financial services.
  • CeFi: Centralized finance run by intermediaries or firms.