Lummis: CLARITY Act Included $150M FinCEN Request
Sen. Cynthia Lummis said a $150 million FinCEN funding request was included in the CLARITY Act after negotiations with Democratic senators.
Sen. Cynthia Lummis wrote in an Oct. 3 post on X that the CLARITY Act included a $150 million request for the Financial Crimes Enforcement Network after negotiations with Democratic senators. She questioned their opposition to the bill after the talks produced changes to the legislation.
Lummis wrote that the final draft contained 126 substantive changes requested by Democratic senators. The negotiations covered digital-asset market rules, FinCEN funding and ethics provisions involving public officials’ financial interests in cryptocurrency.
The Senate voted 49-50 on Sept. 15 against advancing H.R. 3633. The bill needed 60 votes to proceed.
The proposed funding would give FinCEN additional resources for investigations and enforcement involving financial crimes linked to digital assets. Democratic lawmakers had raised concerns about ethics provisions and potential cryptocurrency-related conflicts involving public officials.
FinCEN reported reviewing 33,904 Bank Secrecy Act reports filed between September 2023 and December 2025. The reports covered about $12.7 billion in suspected crypto investment scam activity. The agency linked many cases to overseas scam centers and transnational criminal organizations and identified cryptocurrency transfers involving exchanges and other financial services.
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