https://people.com/ruben-gallego-groans-about-democrats-leaked-texts-11857626
Democratic Senator Ruben Gallego has criticized the Trump-backed CLARITY Act crypto ethics proposal, labeling it as “not a serious effort.” Gallego, who had initially supported the bill in committee, now plans to work on a counterproposal with Republicans. The CLARITY Act, which aims to establish a regulatory framework for digital assets, has passed through the House and Senate Banking Committee but has yet to become law. The ethics provision added by Republicans appears to be a significant point of contention for Democrats, reflecting a potential stumbling block for the bill’s advancement.
Key Takeaways
Senator Gallego’s criticism appears to reflect a lack of bipartisan support, which could hinder the CLARITY Act’s progress.
The ethics provision in the latest draft seems to be a major obstacle, suggesting challenges in securing Democratic votes.
