US Senators sent revised ethics rules to White House for CLARITY Act: Report
The window to pass a comprehensive crypto market structure bill before the Senate breaks for a month-long recess is closing, with ethics a dividing issue for many lawmakers.
Two US senators on opposite sides of the political aisle have reportedly sent revised ethics guidelines to the White House as part of discussions over a cryptocurrency market structure bill in Congress.
According to a Thursday PunchBowl report, Senator Thom Tillis and Senator Ruben Gallego submitted a counteroffer to the Trump administration that included a change to ethics provisions in the Digital Asset Market Clarity (CLARITY) Act. The changes would reportedly address concerns from many lawmakers in the first draft by allowing state authorities to enforce a ban on federal officials issuing or sponsoring tokens rather than the US Attorney General.
Gallego, a Democrat, previously said that provisions around ethics, consumer protection, illicit finance, conflicts of interest and market integrity “must be strengthened” and he would continue to work with Republicans to get the bill “over the finish line.” Cointelegraph reached out to Gallego’s and Tillis’ teams for clarification on the proposed changes but did not receive an immediate response.