Lummis Says Democrats Opposed Discussion of Tougher Crypto Penalties

Sen. Cynthia Lummis said Democrats voted against a proposal to discuss tougher penalties for digital-asset violations, highlighting a divide over whether to consider higher fines as the Clarity Act advances. Lummis described the legislation as aiming to impose civil monetary penalties for violations and has stressed the need for clearer rules governing digital assets. The vote she described concerned a proposal to discuss stricter penalties. Other votes on the Clarity Act have focused on advancing the measure. A September procedural vote to advance the bill failed after all Senate Democrats and four Republicans opposed it.