Lummis Says Democrats Seek Ban on Crypto Exchanges Creating Tokens

Sen. Cynthia Lummis criticized Democrats over a proposed ban on exchanges creating tokens, adding a dispute over token issuance to the debate over the CLARITY Act and U.S. crypto rules. Lummis said Democrats wanted to prevent exchanges from creating tokens on their own. The CLARITY Act is intended to formalize rules for digital assets, and token creation is one issue in the broader policy debate. Lummis has also criticized Democrats over proposed exchange filing and recordkeeping requirements in the CLARITY Act. Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.