US Senators Submit Revised Ethics Guidelines for Cryptocurrency Bill
US Senators Thom Tillis and Ruben Gallego have sent revised ethics guidelines to the White House as part of discussions over the CLARITY Act, a cryptocurrency market structure bill in Congress. The move is seen as a counteroffer to the Trump administration's initial proposal.
The revised guidelines aim to address concerns from lawmakers regarding ethics provisions in the first draft of the bill. Specifically, they would allow state authorities to enforce a ban on federal officials issuing or sponsoring tokens, rather than relying solely on the US Attorney General.
This change is seen as an attempt to gain support from Senate Democrats, who have expressed opposition to the initial bill due to concerns about President Donald Trump's dominance over the regulated industry. With Republicans currently holding a narrow majority in the Senate, any additional support from Democrats could be crucial for the bill's passage.