Lummis: CLARITY Act Required Audits for Crypto Projects Raising Over $25M

The audit threshold itself is the notable detail: it would have imported traditional disclosure discipline into token fundraising above a defined size, a substantive concession rather than a purely partisan marker. That Democrats still blocked advancement suggests the fight was never about audit standards alone, leaving the bill's underlying market-structure questions unresolved. Whether the audit provision resurfaces as a standalone compromise, or gets folded into a later vehicle, is the open question for projects weighing public raises.