CLARITY Act Markup Still On Course as Senate Puts Crypto Bill on Schedule, Lummis Assures

Senator Cynthia Lummis has signaled that the CLARITY Act markup is still on course after revealing that Senate Majority Leader John Thune reserved space on the Senate calendar for a floor debate later this spring. The pro-Bitcoin Senator also explained why the crypto bill markup was earlier delayed, after Coinbase withdrew its support for the bill. 

Cynthia Lummis Says Senate Cleared Time for CLARITY Act 

Lummis, who chairs the Senate Subcommittee on Digital Assets, told Fox Business the markup had already been scheduled. However, she said lawmakers pulled it from the Banking Committee agenda the day before. She explained the committee removed it after lawmakers realized the bill needed more agreement.

Fox Business host Maria Bartiromo asked Lummis why the Senate lost the earlier window. Bartiromo referenced Coinbase CEO Brian Armstrong, who publicly criticized the markup approach. However, Lummis said the delay did not happen only because of Coinbase’s pushback.

Instead, she said other groups raised concerns that lawmakers could not ignore. Notably, she pointed to banks and credit unions as major voices in the debate. She said some Banking Committee members worried stablecoins could cause deposit losses for traditional institutions.

Lummis said the concerns forced lawmakers to pause and revisit sections of the crypto market structure bill. She added that Senate scheduling remains difficult, which made the lost window more costly. However, she said Thune assured her the Senate will still move forward later this spring.

The Senator also said bipartisan talks are currently underway to finalize key parts of the crypto bill. She said lawmakers want to strengthen consumer protections while clarifying stablecoin rules. She also said Congress aims to set clearer regulatory lines for digital assets.

Notably, Lummis has continued promoting the CLARITY Act publicly in recent weeks. On X, she said the U.S. must lead in digital assets instead of falling behind other nations. She also said broad industry agreement rarely happens, yet she believes the CLARITY Act has it.

On Bitcoin Price Pullback and Reserve Debate

During the interview, Lummis also defended the broader digital asset sector. She said Bitcoin and digital assets are not disappearing, despite market volatility. She also urged lawmakers to avoid over-regulation that could slow innovation in the U.S.

Lummis described Bitcoin’s recent price pullback as a typical market correction. She said Bitcoin has survived multiple cycles and has repeatedly proven resilient. She also said long-term fundamentals remain strong, despite short-term weakness.

Lummis also touched on the Bitcoin reserve debate. As Coingape reported, Treasury Secretary Scott Bessent ruled out BTC buys, as GOP senators are pushing for gold reserves to be used to support a Bitcoin reserve.

However, Lummis maintained her long-running position that Bitcoin should be treated as a strategic asset. She has previously argued that Bitcoin could play a role in broader fiscal planning. She also pushed back against critics who question whether the industry deserves clearer rules.