Crypto● Neutral
CLARITY Act Release Draws Democratic Pushback, Odds Stay at 33%
Senate Republicans released the updated CLARITY Act with an ethics sunset clause. Democrats called enforcement 'unserious.' Polymarket odds stay at 33%. Next committee meeting is July 27.
Continue with
Senate Republicans released the updated Digital Asset Market Clarity Act text on Monday, folding in an ethics package the White House agreed to during recent talks. The bill carries a sunset clause that kills the ethics provisions at noon on January 20, 2029. It gives the US Department of Justice civil enforcement authority, meaning the agency can sue exchanges that list banned tokens. The text also explicitly excludes non-custodial crypto developers from classification as money transmitters.
Democrats rejected the language within hours. Senator Angela Alsobrooks called the DoJ enforcement mechanism “an unserious offer” and said she would not support the bill if that language stayed. Senator Ruben Gallego said the text left too many loopholes for public officials’ crypto dealings. Their opposition keeps the bill short of the bipartisan support needed to clear the Senate Banking Committee.