CLARITY Act Crypto Bill Still on Track as Senate Schedules Debate, Says Lummis

Highlights

• Senator Lummis says Senate leadership has reserved time for the crypto bill this spring

• Stablecoin concerns from banks caused a temporary delay

• Lummis supports Bitcoin as a long-term strategic asset

Senator Cynthia Lummis confirmed that the CLARITY Act markup remains on track, stating that Senate Majority Leader John Thune has set aside time for a floor debate later this spring. She also explained that the bill’s earlier delay came after industry and banking groups raised concerns, including Coinbase withdrawing its support.

Senate Reschedules CLARITY Act Review

Speaking to Fox Business, Lummis said the markup was originally planned but removed from the Banking Committee agenda at the last moment because lawmakers felt more agreement was needed.

Host Maria Bartiromo mentioned criticism from Coinbase CEO Brian Armstrong, but Lummis clarified that the delay wasn’t due only to Coinbase’s comments. She said banks and credit unions raised concerns, especially about stablecoins pulling deposits away from traditional financial institutions.

These concerns led lawmakers to pause discussions and revise parts of the bill. Lummis added that Senate scheduling challenges made the delay costly, but Thune has now assured her the bill will move forward later this spring.

She also said bipartisan talks are ongoing to finalize key parts of the legislation, including consumer protection measures, stablecoin rules, and clearer crypto regulations.

Lummis has continued promoting the CLARITY Act publicly, saying the U.S. must lead in digital asset policy rather than fall behind other countries. She acknowledged that full industry agreement is rare but believes this bill has broad support.

Lummis on Bitcoin Prices and Reserve Debate

Lummis also addressed recent crypto market weakness, calling Bitcoin’s pullback a normal correction. She said Bitcoin has survived many downturns and remains strong over the long term.

She urged lawmakers not to overregulate the industry, warning it could hurt innovation in the U.S.

On the Bitcoin reserve debate, Lummis restated her belief that Bitcoin should be treated as a strategic asset. While Treasury Secretary Scott Bessent has ruled out government BTC purchases and some lawmakers favor gold reserves instead, Lummis continues to argue Bitcoin could play a role in long-term financial planning.

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