U.S. Senator Lummis: The CLARITY Act Has Reduced the Annual Cap on Crypto Fundraising to $50 Million

on October 26, U.S. Senator Cynthia Lummis stated that the Democrats had previously requested reducing the annual funding cap under the Regulation Crypto framework from $75 million to $50 million and adding a lifetime funding cap of $200 million, which the Republicans have accepted and incorporated into the CLARITY Act.

Lummis also criticized the Democrats for ultimately voting against these rules, which they had previously advocated for and that were intended to strengthen retail investor protection.