Senator Cynthia Lummis Says CLARITY Act Takes Wyoming’s Digital Asset Approach Nationwide

Senator Cynthia Lummis says the CLARITY Act could bring Wyoming’s approach to digital-asset regulation across the United States, giving crypto companies clearer federal rules for operating and raising capital.

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Cynthia Lummis Backs Wyoming-Style Crypto Rules Nationwide

Senator Cynthia Lummis said Wyoming built a legal framework for digital-asset companies years before federal lawmakers began developing broader crypto rules. The Wyoming Republican said the CLARITY Act would apply a similar approach at the national level.

“Wyoming built a legal framework for digital asset companies years before Washington even started paying attention to digital assets, and we’ve proven it works,” Lummis said. She added that the bill takes the same approach of creating “clear rules that keep builders here” and applies it nationally.

Wyoming has passed more than two dozen blockchain-related laws since 2018. The state also established special purpose depository institutions for digital assets and created legal definitions covering several types of blockchain-based property.

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CLARITY Act Sets SEC and CFTC Roles

The CLARITY Act seeks to establish federal rules for the US digital-asset market and define regulatory responsibilities between the Securities and Exchange Commission and Commodity Futures Trading Commission. The framework separates certain digital assets into categories that determine which agency has authority.

The legislation also establishes disclosure requirements for certain digital assets and includes protections for non-custodial software developers. Developers who provide software without controlling customer funds would not automatically face the same requirements applied to centralized financial intermediaries.

Another provision addresses customer assets during bankruptcy proceedings. The bill would classify digital assets held for customers as customer property in Chapter 7 cases, separating those holdings from assets belonging to a failed company.

September 15 Senate Vote Approaches

The CLARITY Act passed the House in July 2025 by a 294-134 vote. Attention has now shifted to the Senate, where lawmakers are scheduled to hold a cloture vote on September 15 before a potential final vote.

SEC Chair Paul Atkins said he expects the Senate to advance the legislation and hopes it can eventually reach President Donald Trump for his signature.

However, the congressional calendar could affect the timing. House leadership has canceled sessions during the second half of September ahead of the midterm election recess. Any Senate changes requiring further House action could therefore extend the legislative process beyond September.

For more protection, traders can explore regulated US crypto exchanges that follow existing federal requirements.