Crypto Regulation Bill Heads to Senate Vote with New Concessions
A long-awaited cryptocurrency regulation bill is set to face its first Senate vote this week after nearly a year of negotiations. The Clarity Act has been revised several times, with the latest version released Sunday featuring new ethics language approved by the White House.
The changes address concerns raised by Democrats about President Trump's and his family's crypto ventures. They include restrictions on elected officials' involvement in the industry and allow state attorneys general to bring cases against the Department of Justice or crypto companies over violations.
Despite these concessions, it remains unclear whether they will be enough to secure the needed votes from both parties. Senate Republicans are trying to win over a handful of GOP holdouts and some crypto-friendly Democrats.
The White House-approved ethics provision is seen as a key factor in the bill's success. Trump agreed to about 80 percent of the proposal sent over by Sens. Ruben Gallego (D-Ariz.) and Thom Tillis (R-N.C.) in late July, according to a Senate GOP aide.