Senate Crypto Bill Hits Snag as Democrats Reject Revised Ethics Language

A Senate bill aimed at regulating cryptocurrency has hit a roadblock due to concerns over ethics language from Democrats.

The Clarity Act, which was revised with 126 changes requested by Democrats after more than a year of bipartisan talks, is set for a procedural vote on Tuesday.

Senate Republicans say the new draft reflects their efforts to address Democratic concerns and incorporate meaningful changes. However, Sen. Mark Warner (D-Va.) said that Democrats have a counteroffer for the GOP, citing ethics language as the main deterrent to committing on how they would vote.