CLARITY Act could take Wyoming crypto rules nationwide

Senator Cynthia Lummis has backed the CLARITY Act as a way to extend Wyoming’s digital-asset model across the United States before a Sept. 15 Senate vote requiring 60 votes to advance. Summary Lummis said Wyoming’s crypto laws offer a working model for federal regulation. The CLARITY Act would divide digital-asset oversight between the SEC and CFTC. Certain non-custodial developers would receive protection from financial intermediary rules. A Sept. 15 cloture vote will decide whether the Senate begins debating the bill. Lummis presents Wyoming as a model for the CLARITY Act Senator Cynthia Lummis said in an X post that Wyoming established rules for digital-asset businesses years before Congress began working on a federal market structure framework. The Wyoming Republican argued that the state’s experience shows lawmakers can regulate the industry while allowing companies to operate and raise money in the United States. “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. According to Lummis, the CLARITY Act follows the state’s approach by setting “clear rules th...