Crypto Bill Stalls as Democrats Hold Up Ethics Language
The fate of the bipartisan crypto market structure bill, known as the CLARITY Act, hangs in the balance as Senate Republicans express doubts about its passage.
According to Senator Mike Rounds (R-SD), 'it does not look good right now' for the bill's chances when the Senate returns next week. The holdup is a Democratic demand for ethics language covering the president and his family, which has seen little movement so far.
The White House, however, insists that President Trump remains committed to passing the CLARITY Act, with a spokesperson claiming he is 'unequivocal' on the issue. Senator Thom Tillis (R-NC) warns that without the White House's willingness to bridge the ethics gap, the bill will fail.
A failed vote next week could have significant implications for the crypto industry, potentially leading to increased spending in key Senate and House races. The US crypto market structure remains stuck in Congress, with no clear resolution in sight.