CLARITY Act Will Allocate $150M To Track Crypto Scammers, Says Senator Lummis

Senator Cynthia Lummis has again defended the CLARITY Act as critics noted that it could lower compliance in the crypto industry. Lummis noted that the bill would instead help enhance the enforcement of fraud in digital assets by directing $150 million in funding toward investigations.

CLARITY Act To Assign Funds For Combating Crypto Scams

Lummis penned a message on X that said, “The Clarity Act delivers $150 million for law enforcement to track down scammers and bad actors in the digital asset space.”

Her statement comes on the heels of White House officials meeting with law enforcement officials to discuss the U.S. crypto bill. At the time, the discussions reportedly focused on the impact of developer protections on the ability to combat illicit finance. Lawmakers also questioned the impact on the enforcement action with respect to crypto crimes.

Solana Institute President Kristin Smith opposed this narrative and called on lawmakers to keep the Blockchain Regulatory Certainty Act (BRCA) intact in the CLARITY Act. Smith says the language is important for blockchain developers, validators, or node operators, who are not in direct control of customer funds.

The Clarity Act delivers $150 million for law enforcement to track down scammers and bad actors in the digital asset space.

— Senator Cynthia Lummis (@SenLummis) June 16, 2026

Smith posted on X that the BRCA “must stay in the bill, fully and intact.” She said it would help to make it clear that non-custodial blockchain participants shouldn’t be considered money transmitters under federal law.

She went on to say, “The BRCA draws a bright line: if you write open-source software, run a node, or validate transactions — and never take custody or control of anyone’s money — you are not a money transmitter.”

Wall Street Chatter Around The Crypto Bill Grows

Now, the CLARITY Act is close to a Senate floor vote, Smith believes. Other industry leaders, regulators, lawmakers and investors are also getting ready to meet in Chicago for talks on the future of U.S. crypto regulation.

Rep. Dusty Johnson, who was a key voice for advancing the original Agriculture Committee version of the bill last year in the House, will be among the attendees in Chicago. He has been involved with the process of lawmakers as they continue to work on the Senate’s version of the CLARITY Act.

Thus, journalist Eleanor Terrett is hoping to find out “how House Ag Committee members are thinking about the Senate’s version of the Clarity Act.

Prior to this, JPMorgan CEO Jamie Dimon’s comments on the bill also caused controversy. Thereafter, Ripple CEO Brad Garlinghouse entered the fray during a recent interview. Garlinghouse claimed that claims of a lack of compliance oversight are misleading and that the measure actually strengthens that oversight.

“I think Jamie Dimon did a disservice when he did that interview,” Garlinghouse said. He dismissed worries that the CLARITY Act could ease fraud in the crypto industry, which aligns with Senator Lummis’ recent post.

He added, “it is either intentional misrepresentation or negligent to make support for the CLARITY Act go away.”