Lummis says China writes crypto rules if CLARITY Act fails
May 31, 2026
The Wyoming senator says the US falls behind Beijing on digital finance without a market structure law.
The Wyoming senator says the US falls behind Beijing on digital finance without a market structure law.
Spot Bitcoin ETFs posted one of 2026’s largest single-day outflows just four days after the Senate Banking Committee advanced the crypto market structure bill.
Crypto market structure bill heads to the Senate floor after a 15-9 committee vote, with an ethics provision now the deciding factor for final passage.
The Senate Banking Committee passed the 309-page CLARITY Act out of markup on May 14, advancing the U.S. crypto market structure bill to the full Senate floor.
First full committee vote will decide whether crypto market structure legislation advances to the Senate floor
Atkins flags crypto vaults, onchain exchanges, brokers, and clearing systems as the SEC’s next rulemaking targets, and renews his call for Congress to pass the CLARITY Act.
Senate text released May 1 blocks bank-deposit-style yield but preserves activity-based rewards, clearing a path for a Banking Committee markup.
Senate Banking Committee markup of the CLARITY Act is scheduled for the week of May 11, 2026, ending a three-month delay on the most consequential U.S. crypto legislation in over a decade.
Industry coalition warns Senate delays risk pushing crypto innovation offshore