U.S. Democratic Senator: Republican CLARITY Act Ethics Clause Draft "Not a Serious Proposal"
2026-07-24 03:19
Odaily Planet Daily News: U.S. Democratic Senator Ruben Gallego stated that he will work with Republicans to propose a counter-proposal regarding the ethics clause in the "Digital Asset Market Clarity Act" (CLARITY Act) that has been recognized by the White House. He claimed the draft released this week is "not a serious proposal."
On Wednesday, U.S. Senate Republicans released the proposed text of the CLARITY Act, whose ethics clause prohibits all U.S. federal officials, including President Donald Trump, from issuing or sponsoring any digital assets. Democrats believe the relevant ethics clause is insufficient.
Republican Senator Bernie Moreno denied the clause was weak, stating the draft contains "the strongest ethical language in U.S. history." Gallego indicated he would work with Senator Thom Tillis and other Republicans to advance a counter-proposal and submit new text for the clause.
On Wednesday, U.S. Senate Republicans released the proposed text of the CLARITY Act, whose ethics clause prohibits all U.S. federal officials, including President Donald Trump, from issuing or sponsoring any digital assets. Democrats believe the relevant ethics clause is insufficient.
Republican Senator Bernie Moreno denied the clause was weak, stating the draft contains "the strongest ethical language in U.S. history." Gallego indicated he would work with Senator Thom Tillis and other Republicans to advance a counter-proposal and submit new text for the clause.
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