Lummis urges CLARITY Act passage ahead of committee markup

Pro-cryptocurrency U.S. Senator Cynthia Lummis has urged the passage of the CLARITY Act, stating on X that she has worked with Democrats for over nine months on the legislation. Lummis said the bill creates a much-needed regulatory framework for the cryptocurrency sector, bringing the industry into the regulatory fold to benefit American consumers. The CLARITY Act is scheduled for a markup by the Senate Banking Committee at 2:30 p.m. UTC today. The committee is composed of 13 Republicans and 11 Democrats, with 13 votes required for the bill to advance. Republicans are currently expected to advance the bill without Democratic support.