‘There’s no point’: Democrats counter Blockchain Association’s CLARITY push
The Blockchain Association supports the CLARITY Act, arguing it establishes a federal regulatory framework for crypto, enhances law enforcement tools against financial crime, and brings exchanges and Bitcoin ATMs under stricter oversight while exempting non-custodial software developers. However, Democratic Senators Chris Murphy, Jeff Merkley, and Chris Van Hollen oppose the current version, demanding stricter ethics provisions to prevent conflicts of interest, specifically barring elected officials and their families from profiting from cryptocurrency businesses. Bipartisan compromise is seen as essential for passage. Amid negotiations, the act's approval odds on prediction market Polymarket have dropped significantly to 32%, down from a peak of 74%.
ambcrypto07/17 16:02
