US Senator Cynthia Lummis: In the coming days, we will continue to promote bipartisan agreement on the CLARITY Act to make it law

BlockBeats News, July 23, U.S. Senator Cynthia Lummis stated in a post that she thanks Democratic colleagues for their important contributions to the new draft of the CLARITY Act and promises to continue working toward an agreement in the coming days so that the bill can ultimately become law. Consumer protection and support for innovation are not contradictory, and this draft bill proves that both can be achieved simultaneously.

Previously, it was reported that U.S. Senate Republicans released a new version of the CLARITY Act after holding a briefing call with industry stakeholders. The new text proposes to prohibit the President, Vice President, members of Congress, federal judges, and other officials and their spouses from receiving compensation through the issuance or sponsorship of digital assets while in office. These provisions are valid until January 20, 2029. Covered officials must also sell crypto assets and investments in crypto companies, or place them in a blind trust out of their control; sales of crypto assets exceeding $1,000 must be disclosed.