Cynthia Lummis · Democrats · Donald Trump · CLARITY Act · US Senate · Republicans · CoinDesk
Democrats 'chose visceral hatred for' Donald Trump over crypto Clarity Act, Lummis confirms
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WASHINGTON, D.C., Senator Cynthia Lummis said she was "dismayed, dumbfounded and saddened" that the Senate couldn't advance a key procedural vote for crypto market structure legislation last week.
Key facts
- UPDATE (Sept. 22, 2026, 22:30 UTC): Adds additional detail to first section; adds section quoting Congressmen French Hill and Ritchie Torres
- Trump revealed in a mid-year financial disclosure in 2026 that he made $1.4 billion off of his various crypto ventures in 2025, the first year of his presidency
- The bill itself was a bipartisan product which grew from some 300 pages to over 600, she said, after Democrats asked for provisions addressing issues like bankruptcy protections, among other items
- Earlier in the day, House Financial Services Committee Chairman French Hill and Congressman Ritchie Torres both spoke to the failure of the Clarity Act vote in another session
Summary
Lummis blamed Democrats for the bill's failure at an appearance Tuesday at CoinDesk's Policy & Regulation event, while saying that the bill was the result of negotiations between members of both parties. "The problem was, as I see it, Democrats hate President Trump more than they like good policy, and the way I see it is they chose their visceral hatred for President Trump and denied the opportunity to pass important policy legislation before a midterm," she said.
The bill itself was a bipartisan product which grew from some 300 pages to over 600, she said, after Democrats asked for provisions addressing issues like bankruptcy protections, among other items.