Senate Bill for Digital Asset Regulation

Major bill designed to create a clear regulatory framework for digital assets

could soon be heading to the Senate floor for a full vote in less than two

hours. The Senate Banking Committee's markup process on the Clarity Act set to

begin Republican Senator Cynthia Lummis is here and she's the author and

champion of that bill. She sits on the Senate Banking Committee as chair of the

Digital Assets Subcommittee. Good morning to you. Sounds like we're here. It's gonna

happen. That's a fact. We've been working for over nine months with Democrats

trying to get this bill ready for today. It provides a regulatory framework that

currently doesn't exist in the digital asset world. It's the Wild West out there

and that allows fraudsters to operate without a regulatory framework to respond

to their illicit activity. It also allows legitimate players to set up shop

overseas because they do have regulatory frameworks. This is a way to bring this

industry into the fold into the United States, make it strong, robust, and serve

the American consumer.