U.S. Democratic Senator: Republican CLARITY Act Ethics Clause Draft Is Not a Serious Proposal

Odaily Planet Daily News: U.S. Democratic Senator Ruben Gallego stated he will work with Republicans to introduce a counterproposal regarding the White House-approved ethics clause within the Digital Asset Market Clarity Act (CLARITY Act). He claimed the draft published this week is "not a serious proposal."

U.S. Senate Republicans released the proposed text of the CLARITY Act on Wednesday. The ethics clause prohibits all U.S. federal officials, including U.S. 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 is weak, stating the draft includes "the strongest ethical language in American history." Gallego said he will work with Senator Thom Tillis and other Republicans to advance a counterproposal and submit new clause text.