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Crypto

U.S. CLARITY bill keeps clashing over crypto ethics, momentum cools rapidly

The U.S. Senate’s CLARITY crypto market structure bill is losing momentum amid a partisan fight over how to enforce ethics provisions. A key dispute is whether state attorneys general should be able to sue the Justice Department if the federal government fails to enforce crypto ethics rules. Some Republicans and the White House have stepped back from earlier enforcement proposals, while Democratic senators who backed the bill in committee are not promising support on the Senate floor.

Crypto

U.S. strategic bitcoin reserve bill takes shape with quarterly reserve proof, external audits mandated

The full text of a U.S. bill on a strategic bitcoin reserve, H.R. 8957, has been released, detailing a structure that effectively locks up federal bitcoin for 20 years. The bill mandates quarterly public cryptographic “proof of reserves” for all government-held bitcoin, along with independent third-party audits and oversight by the inspector general. It also sets limits on disposals and bars using new borrowing, new taxes or deficit spending to acquire bitcoin.

Crypto

U.S. Senate to resume talks on CLARITY bill, passage uncertain amid Democrat and bank opposition

The U.S. Senate will resume discussions this week on the CLARITY bill, a digital asset market-structure measure. The biggest variable is expected to be ethics provisions addressing conflicts of interest for elected officials involved in crypto, rather than the bill’s regulatory content. Democrats say they may withhold support without such language, while some Republicans want the issue handled separately. Banks also object to parts of the text, adding uncertainty to prospects for passage.