Lummis urges congress to act on crypto legislation to prevent firms moving offshore
Senator Cynthia Lummis is advocating for lawmakers to approve the CLARITY Act, which would establish clearer regulations for the industry.
She argued that vague rules have long caused crypto companies to relocate overseas, noting that the proposed crypto legislation would alleviate uncertainty, establish clear rules, strengthen protections, and make the US a global leader.
Insiders said that US lawmakers would review the CLARITY Act on January 15. If the markup goes through favorably, however, it would imply that lawmakers believe the bill will have sufficient support to pass a formal committee vote.
At the same time, the push for clearer crypto rules comes as the United States grapples with a rapidly expanding national debt,…
