Cynthia Lummis has warned that the United States is running out of time to pass the CLARITY Act, a key piece of legislation designed to establish clearer regulatory rules for the crypto industry. According to Lummis, failure to act soon could delay meaningful progress until the end of the decade.

In recent remarks, she described the current window as the country’s “last chance” to move the bill forward before 2030, emphasizing the importance of regulatory clarity for maintaining US competitiveness in global financial markets. The warning comes amid growing concern that political timelines, including upcoming elections, could slow legislative momentum.

Industry Voices Rally Behind the Bill

Support for the CLARITY Act has grown across the crypto sector, with executives and investors arguing that well-defined rules would benefit both innovation and consumer protection. David Sacks echoed Lummis’ urgency, stating that lawmakers should prioritize advancing market structure legislation through Congress as soon as possible.

Other industry leaders have also weighed in. Chris Dixon highlighted that clear regulations tend to create a more stable environment where both businesses and users can thrive. Similarly, Brian Armstrong signaled renewed support for the bill after earlier hesitation, suggesting that the prolonged uncertainty is becoming increasingly problematic for the industry.

The push for clarity extends beyond exchanges and investors. Gaming and Web3 companies have also expressed optimism, arguing that regulatory certainty could unlock significant growth opportunities and accelerate mainstream adoption.

Legislative Hurdles and Political Timing

Despite broad support, the CLARITY Act still faces several challenges. Key disagreements remain, particularly around how stablecoins should be regulated and whether yield-bearing products should be permitted. These issues have slowed progress in Congress and could continue to delay the bill’s advancement.

According to Paul Grewal, the legislation may be approaching a critical stage, with a potential markup hearing in the Senate Banking Committee. However, he noted that consensus among lawmakers will be necessary before the bill can move forward.

Regulators have also entered the conversation. Paul Atkins has expressed support for comprehensive crypto market structure legislation, arguing that it is necessary to prevent regulatory overreach and provide a stable framework for the industry.

Stakes for US Competitiveness

The outcome of the CLARITY Act debate could have long-term implications for the US financial system. Proponents argue that clear rules would encourage innovation, attract investment and strengthen the country’s position in the global digital economy.

Conversely, continued delays risk pushing crypto development to more favorable jurisdictions. As the regulatory landscape evolves worldwide, Lummis and other advocates warn that the US must act decisively to remain competitive in an increasingly digital financial era.

Donald Trump is facing renewed criticism as cryptocurrency projects associated with him and his family suffer steep losses. The Official Trump (TRUMP) memecoin has dropped dramatically since its launch in early 2025, recently trading near $2.80 after falling to an all-time low of around $2.73. At its peak, the token had surged above $70, meaning it has lost roughly 90% of its value.

Another project tied to the Trump family, World Liberty Financial, has also seen its governance token decline sharply. The WLFI token has fallen to approximately $0.07, down about 75% from its previous high reached in 2025. The rapid losses across both tokens have intensified scrutiny from investors and policymakers alike.

Political and Industry Criticism Mounts

The downturn has prompted criticism from both the crypto community and political figures. Some industry observers have labeled the projects as speculative ventures that expose retail investors to significant risk. Others have gone further, accusing them of blurring the line between political influence and financial gain.

Among the critics, Tonya Evans argued that the situation reflects deeper issues within the crypto sector, suggesting that high-profile endorsements can amplify risk while creating the perception of legitimacy. Her comments echo a broader concern that celebrity or political backing may mislead investors about the fundamentals of such projects.

At the same time, lawmakers have begun to raise ethical questions about the relationship between token ownership and political access. Critics argue that these dynamics could undermine public trust and create conflicts of interest if financial participation is linked to influence.

Lawmakers Question Token-Linked Access

Several prominent US senators, including Elizabeth Warren, Richard Blumenthal, and Adam Schiff, have formally requested information about a planned event tied to the TRUMP token. The gathering, scheduled for late April, reportedly offers access to Trump for token holders, further fueling concerns about influence peddling.

The lawmakers questioned whether requiring token ownership for event participation effectively monetizes political access. They also raised concerns about who ultimately benefits from increased token demand, noting that Trump and affiliated parties could gain financially from renewed interest.

Ongoing Scrutiny as Prices Struggle

Despite the controversy, promotional efforts around Trump-linked crypto projects continue, including events designed to drive engagement and token demand. However, falling prices suggest that market confidence remains fragile.

As scrutiny intensifies, the situation highlights the intersection of politics, finance and emerging technology. It also underscores the risks associated with highly concentrated or personality-driven crypto projects, particularly in an environment where regulatory oversight is still evolving.

BlackRock’s iShares Bitcoin Trust (IBIT) recorded $269.3 million in inflows on Thursday, marking its strongest single-day performance since early March. The surge comes after a brief period of outflows across US spot Bitcoin ETFs and signals a renewed wave of investor interest in digital assets.

The strong showing from IBIT helped push total net inflows across the 12 US-listed spot Bitcoin ETFs to $358.1 million for the day, reversing two consecutive sessions of net outflows. ETF flows are widely viewed as a key indicator of both institutional and retail demand for Bitcoin exposure.

Broader Market Participation Strengthens

While BlackRock dominated inflows, other major players also contributed to the positive momentum. The Fidelity Wise Origin Bitcoin Fund (FBTC) attracted $53.3 million, making it the second-largest contributor for the day.

Meanwhile, Morgan Stanley’s recently launched Bitcoin Trust (MSBT) added $14.9 million in inflows on just its second day of trading, highlighting strong early demand for the product. According to company executives, MSBT has already become one of the firm’s most successful ETF launches to date.

Additional inflows were recorded across several other funds. Products from Bitwise and ARK Invest (in partnership with 21Shares) brought in $11.7 million and $4.8 million, respectively. Smaller inflows were also seen in offerings from Franklin Templeton and VanEck.

Long-Term Investor Confidence Holds

Despite broader volatility in the crypto market, BlackRock’s IBIT has continued to attract steady capital. The fund has accumulated approximately $1.5 billion in net inflows so far in 2026, even as Bitcoin’s price declined from a yearly high of around $97,000 to roughly $72,000.

According to BlackRock’s digital assets leadership, IBIT investors tend to exhibit long-term “buy and hold” behavior, remaining committed even during periods of market stress. This trend suggests that institutional participants increasingly view Bitcoin as a strategic allocation rather than a short-term trade.

ETFs Approach Key Milestone

The latest inflow surge brings US spot Bitcoin ETFs close to reclaiming their year-to-date net inflow levels. After ending 2025 with $56.59 billion in cumulative inflows, the funds are now just $80 million shy of returning to that benchmark.

This recovery comes at a time when major financial institutions are expanding their crypto product offerings. Morgan Stanley, for instance, has already filed proposals for additional exchange-traded funds tied to other digital assets, including Ethereum and Solana.

As institutional infrastructure continues to evolve, ETF inflows remain a crucial barometer of market sentiment. The latest data suggests that, despite short-term fluctuations, investor appetite for regulated Bitcoin exposure remains strong and could support further growth in the sector.