Ethics Remains Sticking Point as Crypto Market Structure Bill Goes to Senate Markup

The Digital Asset Market Clarity Act (CLARITY), previously passed by the House, is set for a Senate Banking Committee markup. Despite a compromise on stablecoin yield, some Democrats, including Senator Kirsten Gillibrand, are blocking progress, demanding stronger ethics provisions to prevent conflicts of interest for politicians. This includes concerns about potential gains by elected officials, including the President, from cryptocurrency ventures. While Republican Senator Tim Scott believes ethics issues should be handled by the ethics committee, other Republicans like Senator Thom Tillis have also emphasized the need for bipartisan agreement on ethics. The bill's passage is further complicated by the need for reconciliation between House and Senate versions before it can reach the President's desk.

(Source：Cointelegraph)