U.S. Senator Cynthia Lummis, one of the main drafters of the CLARITY Act, issued a statement after the bill failed to advance, accusing Senate Democrats of not taking consumer protection or U.S. leadership in digital assets seriously. Lummis said she had spent the past year negotiating with Democratic lawmakers, but argued that after Republicans met their demands, Democrats continued to add new ones and kept moving the goalposts. She also said Democrats voted against limiting personal crypto investments by political figures and against protections aimed at shielding consumers from the scams and fraud the bill sought to address. In her statement, Lummis said Democrats had chosen politics over the American people. She argued that the result could hand U.S. leadership in digital assets to overseas rivals and may push some crypto companies to relocate abroad. Lummis also described Democrats as anti-consumer, supportive of illicit finance, and opposed to business freedom.
According to BlockBeats, on Sept. 16, U.S. Senator Cynthia Lummis, one of the main drafters of the CLARITY Act, released a statement after the bill failed to advance and accused Senate Democrats of never seriously treating consumer protection and the preservation of U.S. leadership.
Lummis said she had spent the past year negotiating with Democratic lawmakers. She added that after Republicans met their demands, Democrats continued to introduce new demands and kept "moving the goalposts."
Claims over the vote
Lummis said Democrats voted that day against limiting personal crypto investments by political figures and against protecting consumers from the scams and fraud the bill was designed to target.
She said Democrats had "chosen politics over the American people," and argued that the move would hand U.S. leadership in digital assets to overseas competitors and could push some crypto companies to move abroad.
Additional criticism in the statement
Lummis also leveled a broader set of criticisms at Democrats, describing them as anti-consumer, supportive of illicit finance, and opposed to business freedom.
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