# Lummis says the stalled CLARITY Act would have sped up Binance freezes, while a critic says it would have required court orders

Commodity Futures Trading Commission Chairman Michael Selig used the hack to offer offshore exchanges a federal registration path, and President Trump said the administration is looking into the theft.

- Published: 2026-10-31T05:43:59.168Z
- Canonical: https://polylog.news/crypto/2026-10-31/lummis-says-the-stalled-clarity-act-would-have-sped-up-binan
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Polylog editors](https://polylog.news), [CoinDesk](https://www.coindesk.com/business/2026/10/30/binance-arranges-usd6-34-billion-to-cover-losses-from-record-crypto-hack), [The Block](https://www.theblock.co/news/regulation/2026-10-30-trump-looking-into-binance-hack-calls-grow-for-crypto-rules-432236), [Senator Cynthia Lummis on X](https://x.com/SenLummis/status/2116218196659515574)

Senator Cynthia Lummis, the Wyoming Republican and a lead author of United States crypto legislation, wrote on X that the theft took less than four hours. She said the CLARITY Act "would have given crypto firms legal cover to freeze suspici…

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