Senator Lummis Defends CLARITY Act With 16+ Illicit Finance Safeguards Against Warren Criticism

According to Bitcoin.com News, Senator Cynthia Lummis on July 3 pushed back against Senator Elizabeth Warren's criticism of the Digital Asset Market Clarity (CLARITY) Act, stating the bill contains more than 16 provisions aimed at combating money laundering, sanctions evasion, and terrorist financing. Lummis cited Sections 201, 303, and 305 as specific mechanisms to address illicit financial activity.

Warren had argued the bill would weaken efforts to stop illicit funds movement through cryptocurrency, citing a report showing a crypto exchange became a major channel for Iranian funds. Lawmakers remain divided on whether the CLARITY Act strikes the right balance between establishing digital asset regulation and strengthening financial crime protections.