After Genius Act, Focus Shifts To Clarity Act: US Senator - CryptoRank

Wyoming Senator Cynthia Lummis provides updates on cryptocurrency legislation progress, highlighting the Senate's work on the CLARITY Act following the House passage of stablecoin regulations.

Senator Lummis reveals that the Senate version of the CLARITY Act introduces "ancillary assets," a new digital asset category outside traditional securities or commodities definitions. The legislation aims to eliminate regulatory confusion between SEC and CFTC oversight while maintaining US leadership in digital finance through domestic blockchain development frameworks.

• The House passed the CLARITY Act in July 2025, with the Senate now developing its own version
• New "ancillary assets" category addresses digital assets that don't fit existing regulatory definitions
• Additional proposed legislation would allow cryptocurrency holdings in mortgage applications
• Pro-crypto regulatory appointments and Trump's digital asset reserve executive order signal potential market growth