Who?
Sen. Cynthia Lummis (R-WY) — Member, Committee on Banking, Housing & Urban Affairs
LISTEN: Laslo & Lummis
Ask a Pol asks:
So how does the US Senate move ahead now that the House passed its three crypto measures? The GENIUS Act has been signed into law by President Donald Trump, but do you think combining the other two measures — CLARITY and Anti-CBDC — might work or do them each as standalone measures?
Key Lummis:
“We're going to do a lot of work comparing CLARITY, which is their market structure bill to our market structure bill, and also to pair up Democrats and Republicans on certain components of our bill to work on some of the details that will prevent us from having to go through to cloture votes,” Sen. Cynthia Lummis exclusively tells Ask a Pol.
“Just to make sure that when we go to the floor with our market structure bill, that it's fairly similar to CLARITY, and something that the House can hopefully agree to. Plus it has bipartisan support over here. The good news about digital asset legislation is it’s been very bipartisan for years.”
Caught our ear:
Is there like no chance the Senate swallows the House-passed CLARITY Act whole without making any changes or tweaks?
“That that remains to be seen,” Lummis says.
It’s still early?
“Yeah.”
People have to look at it?
“Exactly, right. Yeah,” Lummis tells us, “but I was delighted with the depth of the bipartisan vote in the House on their CLARITY bill. So I think that that gives their bill momentum.”
Below find a rough transcript of Ask a Pol’s exclusive interview with Sen. Cynthia Lummis (R-WY), slightly edited for clarity.
TRANSCRIPT: Sen. Cynthia Lummis (7-22-2025)
SCENE: Ask a Pol’s Matt Laslo is walking in the basement of the US Capitol when he hears Sen. Cynthia Lummis’ voice behind him as she exits an elevator.
Matt Laslo: “I heard your voice.”
Cynthia Lummis: “How are you?”
ML: “Livin the dream. So how do you guys move ahead now that the House passed its three crypto measures? I know GENIUS [Act] has been signed, but do you think combining the other two might work or do them as standalone?”
CL: “Well, great question, we're gonna — so we have a draft out today.”
ICYMI — Senate Market Structure Discussion Draft
ML: “Yeah.”
CL: “And so we're going to do a lot of work comparing CLARITY, which is their market structure bill to our market structure bill, and also to pair up Democrats and Republicans on certain components of our bill to work on some of the details that will prevent us from having to go through to cloture votes.”
An underground Senate tram passes them.
ML: “Mhm.”
CL: “Just to make sure that when we go to the floor with our market structure bill, that it's fairly similar to CLARITY…”
ML: “Mhm.”
CL: “...and something that the House can hopefully agree to. Plus it has bipartisan support over here. The good news about digital asset legislation…”
ML: “Mhm?”
CL: “...is it’s been very bipartisan for years.”
ML: “Yeah.”
CL: “So it doesn't have the challenges that say coming up with a bipartisan appropriations package does. So that's the plan, I hope that we can bring this to the floor by September…”
ML: “Mhm?”
CL: “...and get it through. The challenge will be the Anti-CBDC…”
ML: “Yeah?”
CL: “...and that's something I support. We'll have to gauge the temperature of the caucus…”
ML: “Uh-huh?”
CL: “...on that, and also the Democrats on that. I think it’s a wise thing. We actually prevented a direct-to-retail CBDC in the GENIUS Act.”
ML: “Uh-huh.”
CL: “But some people worry about a wholesale CBDC, meaning a CBDC that allows banks to use a central bank digital currency when they are transacting only with each other.”
ML: “Yeah.”
CL: “I think — I don’t think they need a CBDC, they already transact digitally with each other.”
ML: “Mhm.”
CL: “So, we'll just have to gauge that. We'll have to see if we can do that.”
ML: “And do you think CLARITY — do you think there's like no chance the Senate swallows their CLARITY whole without making any changes or tweaks?”
CL: “I think that that remains to be seen.”
ML: “Mhm.”
CL: “Yeah, so…”
ML: “It’s still early?”
CL: “Yeah it’s still…”
ML: “People have to look at it?”
CL: “Exactly, right. Yeah, so — but I was delighted with the depth of the bipartisan vote…”
ML: “Mhm.”
CL: “...in the House on their CLARITY bill. So, I think that that gives their bill momentum.”
ML: “Yeah? Yeah, so it feels — things are feeling good for the Crypto Caucus and the ‘crypto Congress’?”
CL: “I think so. I’m very optimistic.”
ML: “Yeah?”
CL: “And I think it behooves us in the Senate to recognize that the House passed a market structure bill that's tremendously better than FIT 21 was.”
ML: “Yeah?”
CL: “And that we should take it very, very seriously when we're evaluating against our draft.”
ML: “There you go. That’s all I got for you.”
CL: “Thank you.”
ML: “Appreciate you ma’am”
Spencer Newman contributed to this report.
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