Democrats Unveil Counterproposal as Clarity Act Vote Looms

Senate Democrats are planning to introduce a counterproposal to the CLARITY Act before its key procedural vote on September 15. Despite new Republican concessions on ethics, state enforcement, and stablecoin rewards, the revised bill still lacks broad agreement.

The latest draft of the crypto market structure bill was met with opposition from Democrats, who were not ready to support it on Monday. Senator Mark Warner stated that his party had a counteroffer, citing ethics rules as their main concern.

The counterproposal is expected to address most, if not all, of the targeted changes Republicans made to the bill last night. The outcome of the vote will determine whether the process moves forward toward consideration and final approval.