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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

Ripple CEO says perfection must not block progress, urges U.S. Congress to pass Clarity Act

Ripple CEO Brad Garlinghouse urged the U.S. Congress to pass the digital asset market Clarity Act, saying lawmakers should not delay action even with political differences. He backed Ripple CLO Stuart Alderoty’s view that the bill is a consumer protection measure with anti-money laundering and customer identification provisions and tools for law enforcement. Some Democratic senators oppose the latest draft, reducing prospects for passage this year. Coinbase also urged a Senate vote.

Crypto

Seven U.S. Democratic senators oppose release of current CLARITY bill draft, call for fixes to key provisions

A U.S. Senate crypto market structure bill known as the CLARITY bill faces public opposition from seven Democratic senators, clouding prospects for passage this year. The senators said the current draft fails to adequately address key issues including ethics rules for elected officials, consumer protection, illicit finance prevention, conflicts of interest and market integrity. Republicans released a revised draft the same day, while party leaders said they plan to proceed with a vote soon.