Crypto▼ Bearish
Gallego warns fast CLARITY vote could stall crypto bill
Sen. Gallego warned that rushing the CLARITY Act to a Senate vote before resolving ethics and yield disputes could set market structure legislation back. He urged further negotiation.
Continue with
Senator Ruben Gallego warned that pushing the CLARITY Act to a Senate vote before lawmakers resolve disputes over ethics and stablecoin yield could set U.S. crypto market structure legislation back further.
Speaking Wednesday at the SALT Wyoming Blockchain Symposium, the Arizona Democrat said the crypto industry should encourage Senate Democrats and Republicans to keep negotiating instead of pressing for an immediate vote. Lawmakers still need to address the bill's Agriculture Committee portion, assemble the broader package, and determine how to send it to the House, he said.
“Don’t go for a fast vote,” Gallego said. “A fast vote gets you a fast result, but I’m not sure it’s the result you want.” He added that any premature movement would set the process back.
The warning complicates the Trump administration's push for swift passage. A procedural vote could arrive before negotiators have built the bipartisan coalition needed to reach the Senate's 60-vote threshold.
Gallego said he and Republican Senator Thom Tillis submitted compromise ethics language to the White House before the congressional recess. The White House has not provided point-by-point feedback, he said.