Cynthia Lummis

“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…”

“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.”

“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.”

“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.”

“Democrats demanded a direct ban on exchanges creating tokens out of thin air to meet regulatory capital requirements, exactly what FTX did before it collapsed. The Clarity Act writes the FTX rule into law. Protecting consumers from another FTX-style collapse still wasn’t enough to get Democrats to vote to even debate the Clarity Act, let alone pass it.”

“Democrats incorporated whistleblower protections for people who report crypto fraud, the same protections that expose wrongdoing across every other regulated industry. The Clarity Act provides them, but Democrats decided whistleblowers weren’t protecting with their no vote.”

“Democrats wanted investors to have the right to sue when a digital commodity broker breaks the rules— a provision we added to the Senate version of the Clarity Act. Democrats voted no on A NEW PRIVATE RIGHT OF ACTION for trial lawyers.”

“Last night, the Senate passed my Wyoming Education Trust Modernization Act! Wyoming's school trust fund holds $5.4B but is stuck under rules written in 1890, earning ~5%. This bill lets Wyoming use modern investment tools, with returns possibly as high as 8.3%. That means millions more for Wyoming classrooms, with the principal fully protected, no new taxes, and no cost to taxpayers. Thank you @SenJohnBarrasso for…”

“Democrats demanded a government study on crypto mixers and tumblers, the tools criminals use to launder digital assets. The Clarity Act mandates it. Democrats voted no on protecting consumers.”

“Democrats asked for new authority to cut off money laundering through offshore exchanges like Binance. The Clarity Act gives Treasury that authority. Democrats voted no on protecting Americans from offshore money laundering through exchanges like Binance.”