U.S. Senator Cynthia Lummis has sharply criticized Sam Bankman-Fried (SBF) for his support of the CLARITY Act, asserting that the legislation would lead to SBF spending over 25 years in prison. Lummis made her remarks on the X platform, highlighting that her bill is distinct from the one SBF allegedly tried to influence in 2022. She dismissed SBF's endorsement, stating, "We don't need and don't want your support."
SBF had previously praised the CLARITY Act as a significant step for the crypto industry and a notable achievement for Trump, claiming it would help liberate the sector from regulatory constraints imposed by Gary Gensler. Lummis's response underscores the ongoing tension between lawmakers and crypto industry figures over regulatory approaches.
Senator Lummis Criticizes SBF's Support for CLARITY Act
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