After Genius Act, Focus Shifts To Clarity Act: US Senator

In a recent interview with CNBC, Wyoming Senator Cynthia Lummis shed light on the latest progress around the cryptocurrency market structure bill. Senator Lummis stated that legislative focus has moved to the Clarity Act, following the passing of the Genius stablecoin Act.

What Is The Latest Progress In The Clarity Act?

The House of Representatives passed the CLARITY Act in July 2025. The Senate is currently working on its version of the act.

According to Senator Lummis, the Senate’s version of the CLARITY Act introduces the concept of ancillary assets. This is a new category of digital assets that do not fit into traditional definitions of securities or commodities.

The act will also provide regulatory clarity to prevent companies from facing contradictory or ambiguous rules from the SEC and CFTC. The act also aims to maintain US leadership in digital finance by creating a framework that encourages domestic blockchain development.

Also Read: How the Clarity, Genius, & Anti-CBDC Acts Will Reshape US Crypto

Apart from this, Senator Lummis is proposing another bill that will allow home buyers to include cryptocurrency holdings in their mortgage applications.

Another Bull Run Coming Soon?

The US cryptocurrency market will likely surge following more regulatory clarity. The lack of any clear rules has hurt the industry, often leading to confusion.

The SEC welcomed a pro-cryptocurrency candidate, Paul Atkins, at its helm earlier this year. Atkins has vowed to bring more clarity to the US crypto industry while aiming to maintain dominance on a global scale.

President Trump made history earlier this year when he signed an executive order to establish a digital asset reserve for the US. Trump’s pro-crypto outlook was a key factor during his Presidential campaign. However, many have accused Trump of misusing the office for personal gain. Trump-backed World Liberty Financial has made waves in the cryptocurrency community.