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Crypto

CLARITY Act under pressure as Warren, state attorneys general and banks step up opposition

The U.S. Senate\'s CLARITY Act, a cryptocurrency regulatory bill, is facing a critical test ahead of a procedural vote. Staff for Senator Elizabeth Warren are opposing an ethics compromise in the latest amendment and questioning whether new enforcement powers for state attorneys general are meaningful. A bipartisan group of 18 state attorneys general urged Congress to block the bill, while eight banking industry groups criticized a new “circuit breaker” clause. Some crypto advocates also objected to reduced protections.

Crypto

U.S. Senate Republicans revise Clarity bill to bar officials from issuing or holding crypto

U.S. Senate Republicans released a final revised version of the Clarity bill to win Democratic support for a crypto market-structure measure. The 635-page text includes ethics rules accepted by President Donald Trump, protections for blockchain developers and changes to stablecoin reward provisions. It would bar federal officials from issuing, sponsoring or holding significant financial interests in digital assets and allow enforcement by state attorneys general. Violations could draw civil penalties up to $500,000.

Crypto

U.S. Senate Republicans move CLARITY Act to floor, with 60 votes biggest hurdle

U.S. Senate Republicans are moving quickly to bring the cryptocurrency market structure bill known as the CLARITY Act to the Senate floor as early as this week, but securing the 60 votes needed for final passage remains the biggest obstacle. The next step hinges on whether Majority Leader John Thune will initiate cloture. Democrats have raised concerns about ethics rules and DeFi, while Republican unity is not assured.