CLARITY Act Includes $50 Million Annual Crypto Fundraising Cap

The CLARITY Act has now adopted two proposed restrictions on the amount of money that could be raised under Regulation Crypto following requests made by some Democratic members of Congress to change the bill, US Senator Cynthia Lummis said. Lummis informed of this development on her X account, noting that the proposals were accepted and included in the bill. She criticized the Democratic lawmakers for not supporting the passage of the bill with such changes already made, saying that there were provisions that ensured retail investors’ safety. Lummis states that there were two amendments demanded by the Democratic lawmakers in the CLARITY Act, with the first one reducing the cap for Regulation Crypto’s yearly fundraising from $75 million to $50 million and the other implementing a lifetime cap at $200…

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