Lummis says CLARITY Act could let U.S. banks directly hold BTC

U.S. Republican Senator Cynthia Lummis, a prominent crypto supporter, said the CLARITY Act would allow U.S. banks to directly buy and hold cryptocurrencies including Bitcoin if it passes, CoinGape reported. In an interview with Bloomberg Crypto on Sept. 15, Lummis said BTC would rise sharply if the bill is approved and argued that allowing banks to hold crypto could drive large-scale capital inflows. Section 401 of the CLARITY Act includes provisions allowing U.S. banks to directly buy and sell cryptocurrencies, according to the report. Meanwhile, the U.S. Senate is set to hold a cloture vote on Sept. 15 to decide whether to advance the bill to floor consideration, and with Republicans holding 53 seats, at least seven Democratic senators would need to vote in favor to reach the 60 votes required for passage, the outlet said.