Crypto▼ Bearish
Senate Democrats Demand Stronger Ethics in Crypto Bill
Seven senators said the CLARITY Act still lacks adequate safeguards on ethics, illicit finance, and consumer protections as negotiations continue before the August recess.
Continue with
Seven Senate Democrats said the latest draft of the Digital Asset Market Clarity Act still needs major revisions. In a joint statement Wednesday, the senators argued the bill's ethics, consumer protection, and market integrity provisions fall short.
"The Republican-proposed text of the CLARITY Act as it currently stands falls short," the group said. Senators Angela Alsobrooks, Cory Booker, Catherine Cortez Masto, Ruben Gallego, John Hickenlooper, Mark Warner, and Raphael Warnock signed the statement. They want stronger safeguards on conflicts of interest, illicit finance, and consumer protections.
Alsobrooks and Gallego were the only Democrats to support the bill during committee consideration. Several others who signed have previously expressed openness to crypto legislation.