Lummis Points to Trump Dispute After Clarity Act Vote Fails

Senator Cynthia Lummis said the Senate’s failure to advance the Clarity Act was partly driven by Democratic opposition to President Donald Trump, telling the crypto industry to “pin it on the Democrats.”

Speaking Tuesday at CoinDesk’s Policy & Regulation event in Washington, D.C., Lummis said she was “dismayed, dumbfounded and saddened” by the failed procedural vote.

Lummis said the bill had been negotiated by lawmakers from both parties and included provisions sought by Democrats. She argued, however, that political tensions surrounding Trump ultimately prevented the Senate from moving the legislation ahead of the midterm elections.

The Clarity Act was intended to establish clearer responsibilities for the Securities and Exchange Commission and Commodity Futures Trading Commission in overseeing crypto markets, including spot trading.

The procedural vote failed after every Democratic senator and three Republicans opposed it. Senator Thom Tillis, the fourth Republican, switched his vote to “no” at the last minute for procedural reasons.

Lummis said the legislation expanded from approximately 300 pages to more than 600 pages during negotiations, with Democrats seeking provisions covering areas such as bankruptcy protections.

She also pushed back against explanations that blamed the failure on Coinbase CEO Brian Armstrong, the crypto industry or other individual participants. Lummis additionally cited criticism of Trump’s crypto activities as part of the political dispute.

Trump’s 2026 mid-year financial disclosure showed that he made $1.4 billion from his various crypto ventures in 2025, his first year as president.

Lummis praised Democratic Senators Angela Alsobrooks and Kirsten Gillibrand for serving as “honest brokers” during negotiations. Gillibrand has worked with Lummis on crypto legislation for several years.

Clarity supporters call for bipartisan path

House Financial Services Committee Chairman French Hill and Congressman Ritchie Torres also discussed the bill’s failure in a separate session.

Hill said Clarity, or a future version of the legislation, was still needed to provide statutory certainty around issues including the Howey test, fundraising and the legal treatment of code writers.

Rather than focusing on the failed Senate cloture vote, Hill urged lawmakers to determine how to rebuild bipartisan support for the legislation.

Torres said Trump’s connections to the crypto industry had complicated Democratic support for the bill. He said the legislation could have attracted support from both parties without Trump’s involvement, while acknowledging that several factors contributed to its failure.

Trump’s personal memecoin was one particular source of concern, according to Torres, who said its launch created a political challenge for Democrats.

Hill agreed that the memecoin “absolutely did poison the well of the debate” among Democrats. He noted, however, that the memecoin was already part of the political landscape last year, when lawmakers advanced the GENIUS Act on a bipartisan basis and the House passed its version of the Clarity Act.

Hill said the political environment could change after the midterm elections, when Trump would become a “lame duck.” He argued that Republicans and Democrats would need to cooperate if Congress wants to establish rules for presidential activity involving crypto or regulate the industry more broadly.

Torres said Clarity should remain focused on establishing market rules, supporting fair and orderly markets and protecting consumers and investors. He said centering the debate on Trump would create a different political dynamic around the legislation.