Senators Propose Ethics Revisions to CLARITY Act to Secure Bipartisan Support
Key Facts
In a move reflecting the legislative push to regulate the digital asset market, Senators Thom Tillis and Ruben Gallego have submitted a counteroffer to the White House featuring revised ethics provisions for the CLARITY Act. This bipartisan effort aims to address concerns regarding financial conflicts of interest, potentially clearing a path for the bill's advancement in a divided Congress.
The proposed revisions introduce a significant shift in enforcement, allowing state authorities to impose bans on federal officials issuing or sponsoring digital tokens, a power previously designated to the US Attorney General. According to reports, Republicans are seeking to secure Democratic support to reach the critical 60-vote threshold needed for Senate passage, addressing specific demands for strengthened market integrity and consumer protection.
Market participants are closely monitoring the White House's response to these amendments as a key indicator for the future of US crypto regulation.