Sen. Cynthia Lummis said Democrats’ $150 million request for FinCEN funding was included in the CLARITY Act before the Senate rejected a motion to advance the bill. In an October 3 post on X, Lummis said the provision followed negotiations over the digital-asset market bill. She also questioned Democratic opposition after lawmakers had requested changes to the legislation.
FinCEN Funding Comes Amid Crypto Scams
The proposed funding would provide FinCEN with additional resources for financial-crime enforcement involving digital assets. Moreover, the agency recently reported a large volume of suspected crypto investment scams.
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FinCEN said it analyzed 33,904 Bank Secrecy Act reports filed between September 2023 and December 2025. The reports covered about $12.7 billion in suspected scam-related financial activity.
The agency linked many cases to overseas scam centers and transnational criminal groups. Additionally, investigators identified cryptocurrency flows involving exchanges and other financial services.
CLARITY Act Stalls in Senate
The Senate rejected a motion to advance H.R. 3633 by a 49-50 vote on September 15. Consequently, the bill failed to secure the 60 votes needed to advance.
Lummis said the final draft included 126 substantive changes requested by Democrats during negotiations. However, Democratic lawmakers raised concerns about ethics provisions and crypto-related financial interests involving public officials.
The negotiations covered several areas, including market rules, FinCEN funding and ethics provisions. The Senate vote ultimately prevented the bill from advancing.
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