Lummis defends CLARITY Act as NOBLE backs bill and Senate odds slip

Senator Cynthia Lummis has defended the CLARITY Act against criticism from Senator Elizabeth Warren, saying the crypto market-structure bill includes more than 16 illicit-finance safeguards rather than loopholes. The bill also gained support from the National Organization of Black Law Enforcement Executives, or NOBLE, which became the first major law enforcement group to formally endorse it, saying the measure would broaden compliance obligations, strengthen forfeiture authorities, increase oversight of crypto kiosks and preserve existing federal criminal tools. The endorsement could broaden the bill’s coalition beyond industry advocates as the Senate faces a tight pre-recess window, but other law enforcement and prosecutor groups, Catholic coalitions, banking interests and Warren continue to raise concerns about anti-money-laundering protections, Section 604 and conflict-of-interest rules, while prediction markets and analysts show weaker odds of passage this year.

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