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

BlockBeats news, September 16: U.S. Senator Cynthia Lummis, one of the main drafters of the CLARITY Act, issued a statement after the bill failed to advance, accusing Senate Democrats of "never truly taking consumer protection and maintaining American leadership seriously."

Lummis said she had been negotiating with Democratic lawmakers for the past year, but Democrats kept making new demands and "constantly moving the goalposts" after Republicans met their requirements. She said Democrats voted that day against restricting politicians' personal crypto investments and against protecting consumers from the scams and fraud the bill was intended to combat.

Lummis further accused Democrats of "choosing politics over the American people," arguing that the move cedes U.S. leadership in digital assets to overseas competitors and could prompt some crypto companies to relocate abroad. She also leveled a series of criticisms at Democrats, including being "anti-consumer, pro-illegal finance, and anti-business freedom."