Search results for John Kennedy
Crypto
Focus shifts to lame-duck session after U.S. Senate blocks Clarity Act debate motion
The U.S. Senate rejected a procedural motion to begin considering the Clarity Act, which would set a regulatory framework for digital assets and delineate oversight roles for the SEC and CFTC. The vote failed 49 to 50, well short of the 60 votes needed. Democrats raised concerns over ethics provisions tied to President Donald Trump and crypto-related business, citing conflicts of interest and investor protection. Republicans said the bill was not finished and could return in the lame-duck session.
Crypto
White House says ethics provisions are sufficient, Democrats say still not enough as CLARITY Act dispute continues
The U.S. Senate\'s CLARITY crypto market-structure bill has hit renewed hurdles as Republicans and Democrats remain divided over ethics provisions. Republicans unveiled revisions barring senior officials from issuing or sponsoring digital assets and requiring disclosures for sales above $1,000. Democrats said safeguards on ethics, illicit finance and conflicts of interest remain insufficient. The White House said differences have narrowed, but votes remain uncertain ahead of the August recess.
Crypto
U.S. Senate cools to crypto pitch on cost of living relief
At a U.S. Senate hearing, the digital asset industry presented cryptocurrencies as a way to ease Americans’ cost-of-living pressures, but lawmakers were largely cool. Senator John Kennedy said testimony from Digital Chamber CEO Cody Carbon sounded closer to promoting crypto. Few senators asked questions about digital assets. The industry also urged Senate action on the market-structure CLARITY Act, though added ethics provisions and regulatory jurisdiction disputes could complicate passage.
