CLARITY Act Hearing Live: Senator Lummis Says It's the Most Difficult Bill She Has Ever Pushed

OdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdailyOdaiOdailyOdaily OdailyOdaily Official News, the deliberation of the Cryptocurrency Market Structure Act (i.e., the CLARITY Act) has commenced in the U.S. Senate Banking Committee. U.S. Senator and long-time Bitcoin supporter Cynthia Lummis stated that the CLARITY Act is the most difficult bill she has ever pushed during her career. She noted that crypto assets possess both commodity and security attributes, and the innovations brought by blockchain technology remain in a nascent field. Therefore, the bill requires extensive cross-party consultation and industry participation. She also specifically thanked multiple Democratic and Republican senators, including Ruben Gallego, Mark Warner, Angela Alsobrooks, Bernie Moreno, Thom Tillis, and John Kennedy, for their cooperation in advancing the bill.

In response to concerns about consumer protection and enforcement previously raised by Democratic Senator Elizabeth Warren, Lummis argued that the bill is actually "pro-consumer" and can address enforcement-related concerns. At the same time, she emphasized Bitcoin's value in special circumstances, stating that it can help people who have experienced domestic violence or live in oppressive countries to "keep their wealth in their minds and take it with them" because Bitcoin private keys can be remembered.