Democrats Reject Latest Crypto Bill Draft Over Ethics Concerns
Senate Democrats have pushed back against what Republicans called their final offer on major crypto market structure legislation, sending a counterproposal just hours before a key vote. The Digital Asset Market Clarity Act faces a critical procedural vote Tuesday requiring 60 Senate votes to advance. Key Democrat concerns center on ethics provisions affecting government officials' crypto business ties.
Republican Senator Cynthia Lummis said she has made 114 policy concessions and her 'tank is empty.' White House crypto adviser Patrick Witt said changes are down to 'punctuation at this point.'
Senate Democrats met in Minority Leader Chuck Schumer's office on Monday before sending the counterproposal. Senator Mark Warner confirmed the move as he left the meeting.