Senator Cynthia Lummis stated that the Democrats previously sought to lower the annual funding cap under the Regulation Crypto framework from $75 million to $50 million and to add a $200 million lifetime funding cap, both of which the Republicans have accepted and incorporated into the CLARITY Act. Lummis also criticized the Democrats for ultimately voting against these rules—previously advocated by them—that were designed to enhance retail investor protection.
U.S. Senator Lummis: CLARITY Act Caps Crypto Annual Funding at $50M
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Summary
U.S. Senator Cynthia Lummis said the CLARITY Act now limits annual crypto funding to $50 million, down from $75 million. The bill also includes a $200 million lifetime cap. Republicans agreed to these changes advocated by Democrats. Lummis noted that Democrats later rejected the rules they had previously supported. Traders are monitoring how these shifts impact altcoins to watch and funding rates in the coming weeks.
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