Sen. Cynthia Lummis' CLARITY Act passed the Senate Banking Committee 15-9, aiming to classify most crypto tokens as digital commodities under the CFTC.

Senator Cynthia Lummis warns China and Europe are racing the U.S. for crypto dominance as the GENIUS and CLARITY Act advance toward a 2026 vote.

Senator Cynthia Lummis says Congress must pass the CLARITY Act and GENIUS Act to stop US crypto firms from moving offshore to Europe and China.