Lummis Warns China Could Eclipse US on CLARITY Stall as $1B Iran Crypto Seized, Gravity Bridge Loses $5.4M
The post Lummis Warns China Could Eclipse US on CLARITY Stall as $1B Iran Crypto Seized, Gravity Bridge Loses $5.4M appeared on BitcoinEthereumNews.com. Crypto News Wyoming Senator Cynthia Lummis has issued a stark warning that the United States risks ceding global leadership in digital assets to China and other rivals if Congress fails to enact the Digital Asset Market Clarity Act before the legislative window closes. Lummis argued that a comprehensive market structure framework is essential to ensure foreign jurisdictions do not dictate the rules of the next financial era, drawing a direct line from the dollar’s century of dominance to the coming era of tokenized finance. The Senate Banking Committee advanced the legislation in May after months of delay, yet ratification before the midterm cycle remains uncertain as competing interests inside Washington continue to pressure the text. JPMorgan chief executive Jamie Dimon publicly committed the banking lobby to opposing the current dra