Lummis: Democrats “chose politics over the American people,” ceding U.S. crypto leadership to overseas competitors

On September 16, U.S. Senator Cynthia Lummis, a primary drafter of the CLARITY Act, issued a statement after the bill failed to advance, accusing Senate Democrats of "never taking seriously the protection of consumers and the maintenance of U.S. leadership." Lummis stated that she had been negotiating with Democratic lawmakers over the past year, but that Democrats kept raising new demands and "continuously shifting their goals" even after Republicans met their initial requirements. She noted that Democrats voted against limiting personal cryptocurrency investments by political figures and also opposed measures designed to protect consumers from scams and fraud targeted by the legislation. Lummis further accused Democrats of "choosing politics over the American people," arguing that this move would cede U.S. leadership in the digital asset sector to overseas competitors and could prompt some cryptocurrency firms to relocate abroad. She also leveled a series of criticisms against the Democrats, labeling them as "anti-consumer, supportive of illegal finance, and opposed to corporate freedom."