Senator Cynthia Lummis urged colleagues not to “surrender America’s financial future”, warning that the current legislative session may be the only practical chance to approve the Digital Asset Market Clarity Act (CLARITY Act) before 2030.
She mentioned the Trump administration’s continued efforts to move the delayed legislation that would establish a federal framework for digital assets in an X post on Friday.
The goal of the Digital Asset Market Clarity Act, which was passed by the House of Representatives in July 2025 with strong bipartisan support (294-134), is to specify the regulatory authority of the SEC and CFTC over the digital asset market.
In order to prevent innovation from being transferred outside, it also seeks to provide a framework for the licensing of trading platforms and intermediaries, guard against money laundering, guarantee DeFi safe harbours and regulate stablecoins.
Treasury Secretary Scott Bessent urged the Senate Banking Committee to proceed with a markup and get the bill to President Donald Trump’s desk on April 9, reiterating the necessity for action.
“For the better part of five years now, Congress has been working on passing a framework that would onshore the future of finance,” Bessent stated. “Time spent in the Senate is valuable, and it’s time to move on.”
Source: X.com
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment