LATEST: 🇺🇸 Senator Cynthia Lummis says the CLARITY Act's main obstacle is not Trump but the Senate, where banks are running "a full court press that's scaring some senators."

What happened

Senator Cynthia Lummis said the main obstacle to passing the CLARITY Act is the Senate, not former President Trump, because banks are applying intense pressure that is scaring some senators.

Confirmed

Global impact / market context

The CLARITY Act would set rules for how banks deal with crypto assets; if the Senate blocks it, crypto firms could face continued regulatory uncertainty, higher compliance costs, and limited access to banking services.

Analyst inference

U.S. lawmakers are debating crypto regulation while banks lobby heavily for their interests, creating mixed signals for investors in crypto‑related stocks and tokens and influencing market expectations.

Analyst inference

What to watch

1. Any upcoming Senate vote or hearing on the CLARITY Act, which would reveal whether the bill can advance despite banking pressure. Proposed
2. The intensity of bank lobbying efforts, as stronger pressure could lead to amendments or withdrawal of the legislation. Proposed
3. Public statements from other senators or the administration that might shift the balance of support or opposition to the CLARITY Act. Proposed

Evidence

• x.com