Lummis: CLARITY Act required audits for crypto projects raising over $25 million
- —Democrats demanded audits for crypto projects with public fundraising over $25 million
- —The requirement was included in the CLARITY Act text
- —Democrats voted against advancing the bill
- —The Senate procedural vote failed on September 15
Why it matters: The disclosure of details behind the CLARITY Act's failure shows what audit requirements could return in new versions of U.S. crypto regulation.
Source: PANews