ME News reports that on October 26 (UTC+8), U.S. Senator Cynthia Lummis tweeted that Democrats had sought to lower the annual fundraising cap for Regulation Crypto from $75 million to $50 million and add a $200 million lifetime cap. These provisions have now been incorporated into the CLARITY Act. “Democrats ultimately voted against these rules, which were originally designed to protect retail investors.” (Source: Foresight News)
Senator Lummis: New fundraising caps added to the CLARITY Act
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Summary
On October 26, Senator Cynthia Lummis noted that Democrats proposed lowering the annual fundraising cap under Regulation Crypto to $50 million and introducing a $200 million lifetime limit. These changes are now included in the CLARITY Act. On-chain data shows mixed reactions among altcoins to watch. While retail investor protections were the original goal, Democrats ultimately opposed the rules.
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