Lummis Warns CLARITY Act Failure Risks Handing Digital Finance to U.S. Rivals on June 5

On June 5, Senator Cynthia Lummis warned that failure to pass the Digital Asset Market CLARITY Act this Congress would hand digital finance leadership to jurisdictions that do not share U.S. values. Lummis wrote on X: "If we don't pass the Clarity Act this Congress, we are handing the future of digital finance to jurisdictions that do not share our values."

Galaxy Research Head Alex Thorn lowered his odds of the bill passing in 2026 from 75% to 60%, citing Senate schedule constraints. The CLARITY Act has already cleared the Senate Banking Committee with a 15-9 bipartisan vote but now faces mounting pressure from banking groups and limited floor time before the August recess.