- Senator Cynthia Lummis says renewed alignment across the crypto industry has boosted momentum for the CLARITY Act.
- The Senate is moving a narrower, more consumer-protection focused version of the bill than the House proposal.
- Lummis introduced a state-led stablecoin, the Frontier Stable Token (FRNT), running on Solana and backed by cash and short-term Treasuries.
- Journalist Paul Barron says negotiations between chambers are a “high-stakes negotiation” over regulator authority and consumer safeguards.
- Paul Atkins plans a joint event with CFTC Chairman Mike Selig to discuss SEC-CFTC harmonization as lawmakers work to reconcile versions.
Senator Cynthia Lummis said Thursday that a fresh update to the CLARITY Act has produced broad industry agreement and urged Congress to act before the legislative window narrows, posting her view on X. She framed the bill as a rare point of alignment across builders, investors, and innovators and linked progress to a more pro-crypto administration ready to move.
Lummis also blamed the Biden administration for stifling U.S. digital asset policy and posted that the CLARITY Act “would establish protection that future administrations could not easily reverse”, linking that comment on X. She previously said the bill brings together industry participants who want to advance the sector, noting that lawmakers now have both administrative support and legislative momentum in an earlier post.
In early January, Lummis introduced and authorized the state-led stablecoin Frontier Stable Token (FRNT), which runs on Solana and is backed by cash and short-term Treasuries, with Franklin Templeton and Fiduciary Trust serving as custodians. Retail sentiment around FRNT has been reported as highly positive in recent discussions.
Differences have emerged between the House and Senate approaches. The House-passed text grants broad market authority to the CFTC while preserving SEC oversight of tokens deemed securities. Paul Barron said the Senate is advancing a narrower approach that would limit which assets face regulation and add strict customer protections, calling the process a “high-stakes negotiation” on X.
Legislative timing remains uncertain. Paul Atkins said he will join CFTC Chairman Mike Selig next week for a joint agency event to discuss harmonization between the agencies, a step that could influence negotiations between the chambers on X. Lawmakers now face reconciling the two versions to set the final shape of U.S. digital asset rules.
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