Senator Cynthia Lummis (R-WY) accused Senate Democrats of blocking the CLARITY Act purely to damage Donald Trump politically, with Anthony Scaramucci warning they will pay for it at the ballot box in November.
What Lummis And Scaramucci Actually Said?
Lummis posted on X that Democrats are finally saying the quiet part out loud, accusing them of prioritizing anti-Trump messaging over consumer protection and keeping crypto jobs in America.
“It’s about hurting Trump by any means necessary — no matter who becomes collateral damage,” Lummis wrote.
Scaramucci replied directly, saying Senators Thom Tillis (R-NC) and Ruben Gallego (D-AZ) have worked out a strong bipartisan ethics provision and that Trump will likely sign off on it.
He said any Democrat or Republican beholden to the bank lobby who stands in the way will face consequences.
“They will regret it in November,” Scaramucci wrote.
Why Democrats Are Divided On The Bill
Some Senate Democrats fear that negotiating a crypto bill undermines their anti-Trump corruption message, according to Bloomberg Law.
Trump’s crypto ventures reportedly netted him $1.4 billion last year, and Senators Richard Blumenthal (D-CT) and Chris Van Hollen (D-MD) held separate forums this week highlighting that figure as a conflict of interest.
The tension puts Democrats in an awkward position — campaigning against Trump’s crypto profits while simultaneously negotiating legislation that shapes the same industry.
How The White House Is Pushing Back?
The Trump administration pressured law enforcement groups to support the Clarity Act, according to CNN.
Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, contacted FBI officials and other agencies to build support. One law enforcement official told CNN that “everybody in law enforcement got hammered to support that legislation.”
Acting Attorney General Todd Blanche has also been briefing outside groups, seeking to address concerns that the bill leaves gaps in anti-money laundering and terrorism financing rules.
The Justice Department rejected those characterizations, saying critics’ letters “contain factual inaccuracies and mischaracterize Administration policy.”
The Major Cities Chiefs Association backed the bill on Wednesday after lawmakers added new provisions expanding the ability of state and local law enforcement to pursue money laundering cases involving digital assets.
Where The Bill Stands Now
Senator John Thune (R-SD) is planning a floor vote as soon as next week despite Democratic opposition.
The Senate leaves for recess around August 7, making this week the last realistic window for passage in 2026.
Photo via Shutterstock
Recent Comments