Sen. Cynthia Lummis criticized Democrats on October 17 for opposing the Digital Asset Market CLARITY Act, arguing that negotiations had addressed concerns they previously raised.
The Wyoming Republican pointed to potential personal liability for crypto filers who submit false information to regulators and questioned why Democrats remained opposed.
Lummis Points to Changes in the Bill
Lummis said on October 16 that large-trader reporting requirements would help regulators identify possible market manipulation. In a separate post on October 15, she argued that the bill also addressed demands for greater oversight of digital commodity pool operators and trading advisers.
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The legislation stalled on September 15 after a procedural motion failed 50–49. It needed 60 votes to advance.
Democrats Maintain Broader Concerns
Democrats have also raised ethics and national security concerns. Sen. Mark Warner called for stronger ethics safeguards, while Sen. Elissa Slotkin questioned the risks linked to Trump family crypto interests and potential money laundering.
The dispute extends to election spending. Fairshake, a crypto-backed political group, reported about $7.15 million in media buys opposing former Sen. Sherrod Brown in Ohio, according to a recent filing.
Lummis did not identify the specific liability provision or explain the penalties it would carry. Her comments focused on concessions she believes should address Democratic objections, while broader disagreements over ethics and national security remain.
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