CLARITY Act Ethics Provisions Split Senate Along Partisan Lines

Senate Republicans released the full text of the CLARITY Act on Wednesday. Democrats immediately criticized the bill's ethics provisions. One senator called the proposal inadequate, according to a person familiar with the matter.

The CLARITY Act aims to establish ethical guidelines for lawmakers and regulators interacting with the cryptocurrency industry. The provisions cover conflicts of interest and transparency around digital asset holdings.

Republican leaders have not issued a formal response to the criticism. The absence of a public counter-argument has left the bill's path forward uncertain.

Ripple CEO Brad Garlinghouse has publicly backed the legislation, highlighting the industry's interest in clear rules. Senate deliberations are expected to continue in the coming weeks.