Moreno Urges Senate Passage of CLARITY Act Ahead of Crucial Vote

Senator Bernie Moreno (R-OH) is urging his colleagues to pass the Digital Asset Market Clarity Act (CLARITY Act), saying it's not a vote on final passage. The bill has already cleared committee with bipartisan support and was passed by the House, but it needs 60 votes in the Senate to move forward.

The vote is set for Tuesday, and Republicans hold 53 seats in the Senate. Moreno argued that voting 'no' would be equivalent to keeping an entire industry in the dark without rules or a clear American framework, allowing it to develop overseas instead.

Moreno pointed out that Senators can offer amendments once the bill is taken up, which is how the process is supposed to work. He emphasized that thousands of hours had gone into drafting the framework and dozens of Senators had participated in the process.