CLARITY Act Stalls Ahead of Senate Vote as Democrats Demand Ethics Deal
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The CLARITY Act, a key US bill to regulate digital assets, is facing last-minute resistance ahead of a Senate floor vote. Markets are watching for a possible delay in the bill's passage.
CoinDesk reported on June 5 that the path to a Senate vote has become uncertain as Democrats and Republicans remain divided over ethics provisions and safeguards against illicit finance.
Senator Angela Alsobrooks, a Maryland Democrat, said she would not back the bill on the Senate floor until lawmakers reach a full agreement on ethics rules and other unresolved issues.
Those ethics provisions are understood to include potential conflicts of interest related to crypto businesses tied to President Donald Trump.
In recent weeks, Democratic lawmakers and some law enforcement agencies have raised concerns that the CLARITY Act could weaken anti-money laundering rules and make it harder to combat financial crime.
Republicans and the crypto industry, by contrast, argue the bill would reduce regulatory uncertainty in the digital-asset market and strengthen US competitiveness in the sector.
The CLARITY Act had been widely expected to pass this summer, but political disagreements are now raising the prospect of delays or renewed negotiations.
