The post Clarity Act Update: Sen Cynthia Lummis Urges Congress to Pass Landmark Legislation appeared first on Coinpedia Fintech News
Senator Cynthia Lummis has urged Congress to expedite the passage of the Clarity Act. She has reminded the lawmakers that the United States has a small window to legalize the crypto industry through the Clarity Act under President Donald Trump.
“Every day without the CLARITY Act is a day we cede our competitive edge to other nations. We have the most pro-digital asset president in U.S. history – the stars are aligned. Let’s get this landmark legislation across the finish line and secure America’s leadership in crypto,” Lummis Stated.
Clarity Act or Chao: Experts Debate
On Thursday, Senator Lummis stated that the United States has the opportunity to become a crypto capital for the world under President Trump. Furthermore, Lummis believes that the crypto industry would have been suppressed immensely if the Republicans had taken control of the government.
As such, Ripple CEO Brad Garlinghouse has urged Coinbase Inc. (NASDAQ: COIN) and its leadership to support the Clarity Act. Moreover, Garlinghouse believes that seeking to perfect this bill will kill good legislation that promises to end chaos and set the rules for the cry industry in the United States.
What Next?
While speaking at the World Economic Forum (WEF) earlier this week, President Trump reiterated his support for passing the Clarity Act. As such, institutional investors, led by Strategy Inc. (NASDAQ: MSTR) and BlackRock Inc. (NYSE: BKR), have been betting on a crypto market reversal in the near term.
Moreover, Changpeng Zhao (CZ), cofounder of Binance, believes that the regulatory clarity in the United States will trigger a fresh crypto bull market and confirm a supercycle in 2026.