Senator Cynthia Lummis
@SenLummis
U.S. Senator from Wyoming
848 Following 403.7K Followers
Democrats wanted crypto projects barred from going dark until investors have all the material information. The Clarity Act locks it in.
Democrats voted against keeping investors informed.
Democrats asked for new rules targeting crypto market manipulation, something the House bill never had. The Clarity Act adds them.
Democrats voted against stopping pump-and-dump schemes.
Democrats asked that bad actors banned from other securities offerings also be banned from crypto offerings. We made that change and incorporated it into the Clarity Act.
Democrats voted against keeping repeat offenders out of crypto.
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Democrats wanted every retail crypto trade routed through a registered broker or dealer so everyday investors always have a regulated middleman. The Clarity Act requires it.
Democrats voted against putting a regulated professional between Main Street and the market.
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Democrats wanted real examinations to make sure crypto firms follow anti-money laundering laws. The Clarity Act delivers them.
Democrats voted against cracking down on crypto money laundering.
Democrats pushed for a blanket prohibition on federally elected officials from issuing or sponsoring a digital asset, with State AG enforcement. It’s in the Clarity Act.
Democrats then voted against these ethics restrictions on politicians. Embarrassing.
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Customers of a crypto exchange that lost billions last week are being told to trust a promise they’ll be made whole. Under the Clarity Act, customer assets would sit with a qualified custodian, legally walled off from company money. Protection shouldn’t depend on a pledge.
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Please join me in praying for @ChrisMurphyCT and wishing him a swift recovery
Thieves stole $6.3 billion in crypto this week and moved it across blockchains in minutes. The Clarity Act created a pilot program for crypto firms and federal law enforcement to share intelligence directly. When the industry and law enforcement move together, stolen money stops moving.
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Nice try, but what you’re citing is a savings clause. It keeps existing finance and sanctions law in force but it doesn’t erase the rest of the section. What you fail to understand about the Clarity Act is that it would classify Binance as a covered person because it is a digital asset service provider.
No law stops every bad actor, but the Clarity Act would have given the people fighting them better tools and the ability to act faster. Your party voted no, and you have to own that.
Thanks for playing, Amanda Fischer!
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This is not true. Clarity requires stablecoin issuers to freeze per a court order. For exchanges, here’s the relevant language. Check out (1) below.
Yesterday, hackers stole more than $6 billion from Binance in less than 4 hours, the biggest heist in history. The Clarity Act would have given crypto firms legal cover to freeze suspicious transactions the instant law enforcement calls. Every minute lost is money gone for good.
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Democrats asked for $150 million so the CFTC could police crypto markets. The Clarity Act authorizes it.
Democrats voted against funding the cops who catch crypto fraudsters.
Democrats wanted crypto brokers to be required to get customers the best available prices on every trade. The Clarity Act requires it.
Democrats voted against making sure Americans get a fair price.
Democrats asked for anti-evasion language, letting the SEC weigh the totality of the facts and circumstances so bad actors can’t game the rules on a technicality. It’s in the Clarity Act.
Democrats voted against closing the loopholes scammers exploit.
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Democrats demanded that the SEC have the power to deny, suspend, or revoke a crypto project’s certification for material misstatements or omissions. The Clarity Act gives the SEC that power.
Democrats still voted no.
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What a night at the UW Coal Game celebrating Wyoming’s coal and energy industries and the @wyo_football win over Air Force!
Thank you to the Wyoming Mining Association for the Lifetime Achievement Award, sponsored by DISA Uranium Corporation and Navajo Transitional Energy Company. It truly means a lot!
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Democrats asked to cut the annual Regulation Crypto fundraising cap from $75 million to $50 million and add a $200 million lifetime limit. We agreed to both and included them in the Clarity Act.
Democrats voted against the rules they wrote to protect retail investors.
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Wonderful to be in Laramie for the Wyoming Women’s History House’s 25th anniversary! I loved helping create it and am honored to be included with Jon Johnson and Ray Hunkins on the courtyard.
Proud that the new gardens honor Diana Enzi and the late Bobbi Barrasso. Here’s to 25 more years!
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Democrats suggested that anyone convicted of a felony involving insider trading, money laundering, terrorist financing, or financial fraud in the last ten years be barred from raising money under Regulation Crypto, and we agreed. The Clarity Act bars them.
Democrats voted against keeping convicted criminals away from your savings.
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Democrats demanded that state attorneys general have the power to sue digital asset exchanges directly and even sue Washington if it fails to enforce the law.
It was in the Clarity Act, but Democrats still voted no.
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