US Senate · Donald Trump · CLARITY Act · Republicans · Cointelegraph
On Monday, three Republican lawmakers unveiled the text of the bill lawmakers will use to consider advancing crypto market
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Text of CLARITY Act.
Key facts
- According to Senators Tim Scott, Cynthia Lummis, and Thom Tillis, the bill reflected “continued negotiations with Democratic colleagues,” signaling bipartisan support in Thursday’s markup
- The CLARITY Act is expected to give the Commodity Futures Trading Commission (CFTC) more authority in overseeing and regulating digital assets, in a shift of roles usually handled by the Securities
- The Senate Agriculture Committee voted along party lines to advance the bill in January, but the legislation would require 60 votes to pass the Senate even if the same were to happen in the banking
- The recently released text of the Digital Asset Market Clarity Act (CLARITY) in the US Senate Banking Committee is raising some eyebrows among experts before a scheduled Thursday markup
Summary
Some lawmakers continue to push for ethics provision in the bill as bipartisan support is necessary for the CLARITY Act to pass a Senate floor vote. The recently released text of the Digital Asset Market Clarity Act (CLARITY) in the US Senate Banking Committee is raising some eyebrows among experts before a scheduled Thursday markup for provisions on housing and the lack of ethics language. On Monday, three Republican lawmakers unveiled the text of the bill lawmakers will use to consider advancing crypto market structure legislation in the banking committee. However, the latest version includes provisions seemingly unrelated to crypto market structure. According to Senators Tim Scott, Cynthia Lummis, and Thom Tillis, the bill reflected “continued negotiations with Democratic colleagues,” signaling bipartisan support in Thursday’s markup.