Senator Cynthia Lummis wants you to know: she counted the safeguards. More than 16 of them, to be precise.
The Wyoming Republican pushed back against Senator Elizabeth Warren’s claims that the Digital Asset Market Clarity Act of 2025, known as the CLARITY Act, contains loopholes that could benefit bad actors. Lummis pointed to specific provisions in the bill designed to combat illicit finance, arguing the legislation prioritizes consumer protection and law enforcement tools over industry favoritism.
What’s actually in the bill
The CLARITY Act, designated H.R. 3633, attempts to solve one of crypto’s longest-running regulatory headaches: figuring out which federal agency is in charge of what. The bill draws clearer lines between the SEC’s authority over digital assets that qualify as securities and the CFTC’s jurisdiction over those that function more like commodities.
Lummis specifically referenced Section 201 of the bill, which mandates application of Bank Secrecy Act and Anti-Money Laundering rules to entities covered by the legislation. She also cited Section 303, which introduces new sanctions authorities targeting entities linked to illicit activities.
