Gallego Warns Rushed CLARITY Act Vote Would Harm Crypto Legislation
Democratic Senator Ruben Gallego has warned that rushing the CLARITY Act to a Senate vote could set back legislation for the US crypto market structure. Speaking at the SALT Wyoming Blockchain Symposium, Gallego emphasized the importance of continued negotiation between Senate Democrats and Republicans.
Gallego pointed out that lawmakers still need to address the bill's Agriculture Committee portion, assemble the broader package, and determine how to send it to the House. He noted that a fast vote could lead to an undesirable outcome, as Congress has not yet completed all necessary steps.
The White House has been pushing for swift passage of the CLARITY Act, with Trump urging Congress to pass a 'fair version' during a recent appearance with crypto executives. However, Gallego and Republican Senator Thom Tillis have submitted compromise ethics language to the White House, but have yet to receive a point-by-point response.