Democratic Opposition to Clarity Act Broadens in Crypto Bill's Do-or-Die Final Weeks
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Key Senate Democrats have begun mounting an impassioned case against passage of the Clarity Act in its current form, as the sprawling crypto bill enters a climactic final hurdle.
Key facts
On Tuesday, several more Senate Democrats, including possible 2028 presidential contenders Chris Murphy (D-CT) and Chris Van Hollen (D-MD), are set to hold a press conference opposing the Clarity Act
Further, he was the only Senate Republican to co-sponsor the 2023 Digital Asset Anti-Money Laundering Act, which crypto groups attacked as “anti-crypto
The Clarity Act will require 60 votes in the Senate, which means seven Democrats, and possibly more, will need to support the bill
Elizabeth Warren (D-MA) wrote a letter urging Senate leadership to ensure the Clarity Act includes language barring President Donald Trump and his family from profiting off the crypto sector
Summary
Senate Democrats are ramping up opposition to the Clarity Act, demanding ethics rules barring President Trump and his family from profiting off crypto. With less than four weeks before Congress' August recess, the bill faces a narrowing window to pass this year. The legislation will need at least seven Democratic votes in the Senate, if not more, making bipartisan support critical. Elizabeth Warren (D-MA) wrote a letter urging Senate leadership to ensure the Clarity Act includes language barring President Donald Trump and his family from profiting off the crypto sector.