Three US senators oppose CLARITY Act on ethics grounds with vote expected soon
The Senate is expected to vote soon on the CLARITY Act, a major bill creating market structure rules for digital assets. Republicans support moving it forward, but several Democrats want ethics language added to address Trump’s crypto ties through his memecoin, World Liberty Financial, and related investments. Senators Chris Murphy, Jeff Merkley, Chris Van Hollen, and Elizabeth Warren argue the bill should not pass unless it curbs what they describe as Trump’s financial corruption in the industry. The bill needs 60 votes, so some Democratic support will be necessary. Republican leaders say a vote will happen before the Aug. 10 recess, though the exact timing is unclear. The bill also has backing from two law enforcement groups, which say it could help fight crypto-related crime.
