Clarity Act Momentum: Now Is Not the Time to Flinch

Lummis Signals Historic Moment for US Digital Asset Regulation

@SenLummis is urging fellow lawmakers to hold their nerve as the Digital Asset Market Structure Clarity Act moves into what she describes as the most consequential stretch of its legislative journey. Speaking publicly on the bill's progress, the Wyoming Republican said the United States is closer to a functioning digital asset market structure than at any point in its history.

On May 14, 2026, the Senate Banking Committee passed the Digital Asset Market Structure Clarity Act of 2025 by a 15 to 9 vote, a result Lummis described as "a historic step forward for digital asset innovation," crediting bipartisan support and Chairman Scott's efforts to move the bill through committee.

"Today's passage out of Committee sends an unmistakable signal that the United States is not ceding the future of digital finance to anyone," Lummis said following the vote.

What the Clarity Act Would Do

The Clarity Act aims to resolve regulatory friction between the SEC and the CFTC by defining the boundaries of each agency's jurisdiction over digital assets. Under the bill, the CFTC would receive exclusive jurisdiction over digital commodity spot markets, while the SEC would retain authority over investment contract assets.

Supporters argue the structure ends regulation by enforcement and instead provides clear regulatory lanes, reducing ambiguity for issuers, exchanges, and investors. The stakes extend beyond domestic policy. Lummis has argued that the United States risks losing influence over global digital asset standards without clear domestic regulations, pointing to competition from jurisdictions that have already moved. Europe's Markets in Crypto-Assets regulation took full effect in late 2024, giving European-licensed crypto firms a degree of regulatory clarity that US companies still largely lack.

The path ahead still requires several steps. Both Senate committees must complete their markup processes before the bill can go to the Senate floor, and the two versions must then be reconciled with each other and with the House-passed version. Several pieces of legislation Lummis has championed are still working through Congress, and she has indicated she expects progress before the end of 2026. With Lummis having announced she will not seek re-election, the current session represents a defining window to deliver on years of legislative groundwork.

Sources:
Senator Lummis Official Press Release: Historic Committee Passage of Digital Asset Legislation
Latham and Watkins: US Crypto Policy Tracker, Legislative Developments
Bitcoin.com News: Lummis Warns US Must Pass CLARITY Act or Cede Leadership to China and Europe