CLARITY Act Faces Partisan Fight Over Ethics on Senate floor
Cointelegraph
The U.S. Senate Banking Committee advanced the CLARITY Act, though the bill faces intense partisan debate regarding ethics and regulatory standards.Summary
The U.S. Senate Banking Committee has advanced the crypto framework CLARITY Act, moving it toward a floor debate. While committee chairman Tim Scott touted a bipartisan effort, the vote largely split along party lines, with Republicans supporting the bill alongside two Democrats. Opposing lawmakers and advocacy groups have raised significant concerns regarding potential corruption, ethics, and the lack of robust anti-money laundering protections. To pass the full Senate, the bill requires 60 votes, making the support of additional Democrats essential despite mounting pressure from progressive groups against the current industry-backed draft.
(Source：Cointelegraph)