U.S. Democratic Senator Ruben Gallego (루벤 갈레고) warned that rushing a vote on the Clarity Act could instead set back legislation on crypto market structure.
On Aug. 20, blockchain outlet Cointelegraph reported that Gallego said forcing a vote without resolving ethics rules and stablecoin revenue issues could nullify legislative progress made so far.
Gallego made the remarks at the Wyoming Blockchain Symposium in Wyoming. He asked the crypto industry to support additional talks between Democrats and Republicans rather than pressuring for an immediate vote. He said senators still need to finalize parts under the jurisdiction of the Agriculture Committee, assemble a broader bill and decide how to send it to the House of Representatives.
He said that if a procedural vote happens first, a vote could proceed before a bipartisan coalition is in place to secure the 60 votes needed for Senate passage. He said he cannot be sure a quick vote will lead to the desired result, and that a hasty move would delay the legislation further.
One point of contention is ethics rules. Gallego said he and Republican Senator Thom Tillis had submitted a bipartisan compromise to the White House before Congress recesses, but had not received clause-by-clause responses. He stressed that sufficient ethics restrictions are needed to win Democratic support and move the bill forward.
Gallego also voiced dissatisfaction with the state of negotiations with the White House. "We have sent proposals to the White House multiple times, but we either got no response, the response was delayed even further, or we did not even hear anything," he said.
Even so, the administration is not slowing the legislative pace. U.S. President Donald Trump urged Congress at the White House on the day, in a meeting with figures from the crypto industry, to pass a "fair version" of the Clarity Act. White House crypto policy adviser Patrick Witt had said, "We will negotiate with Democrats until before the September vote, but we cannot wait forever."
Senate leaders have already delayed the timing of action until September. Senate Majority Leader John Thune confirmed on Aug. 7 that the vote would be postponed and said the Clarity Act would be the first item taken up when lawmakers return from recess.
As a result, aligning the remaining issues before the September vote is expected to be the key variable in handling the bill. If bipartisan agreement cannot be reached on ethics rules and stablecoin revenue issues, the administration's fast-track plan could again be shaken at the Senate threshold.