Crypto Advocates Urge CLARITY Act Vote as Ethics Rules Face Pushback

Crypto advocacy groups are urging the US Senate to prioritize floor consideration of the Digital Asset Market Clarity (CLARITY) Act, a bill that aims to provide regulatory clarity for the crypto industry.

The Crypto Council for Innovation, Digital Chamber, and Blockchain Association wrote to Senate leaders on Friday, calling for the chamber to advance the CLARITY Act before breaking for state work periods in August.

The letter acknowledged ongoing bipartisan negotiations over key provisions of the bill, which has advanced through the Senate banking and agriculture committees.

However, some lawmakers have expressed concerns about the ethics rules included in the bill, with Senator Ruben Gallego stating that they 'don't go far enough to prevent corruption'.