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Senator Cynthia Lummis responded to the criticisms directed at the Clarity Act amid intense debate over cryptocurrency regulations. She stated that the law enhances fraud prevention and allocates new funding for investigations into digital asset cases. This defense comes at a time when lawmakers are discussing protecting developers, crime risks, and broader market oversight.
Funding for the Clarity Act takes center stage
Lummis portrayed the Clarity Act as a law enforcement tool, not a reduction of oversight. She said the bill allocates $150 million to assist agencies in pursuing cryptocurrency scams and criminals. Therefore, her message directly countered claims that this measure could weaken compliance standards.