Key Democratic Lawmakers Say Crypto Clarity Act 'Falls Short' on Ethics, Other Issues
Solomon said the bill would create a level playing field as Republicans circulate updated text and supporters seek enough votes for a Senate floor vote.
- Seven Senate Democrats rejected the CLARITY Act on Wednesday, saying the newest crypto market structure bill 'falls short' on ethics, consumer protection, illicit finance and market integrity safeguards.
- President Donald Trump's disclosure of over $1.4 billion in crypto earnings from 2025 reignited year-long ethics concerns dormant since GENIUS Act negotiations, prompting Senate Banking Committee Ranking Member Elizabeth Warren to argue the bill inadequately addresses his business interests.
- Senators Catherine Cortez Masto, Angela Alsobrooks, Cory Booker, Ruben Gallego, John Hickenlooper, Mark Warner and Raphael Warnock demanded stronger provisions while stating they had 'been working in good faith with our Republican colleagues for the past year and will continue doing so to get this over the finish line.'
- Without Democratic backing, Republicans now need as many as 10 Democratic votes to clear the 60-vote threshold, jeopardizing their path to an easy Senate advance and creating a difficult vote count for supporters.
- The Senate departs August 7 for recess, forcing negotiators to choose between stronger ethics language and passage before the deadline; Ripple CEO Brad Garlinghouse and Coinbase CEO Brian Armstrong urge compromise while the seven Democrats resist without additional protections.
22 Articles
22 Articles
Goldman Sachs CEO David Solomon Backs the Clarity Act in Split From Broader Banking Industry
Goldman Sachs CEO David Solomon has endorsed the Clarity Act, putting the Wall Street bank behind the crypto market-structure bill even as rival banking executives fight key parts of it. “I’m very supportive of moving the CLARITY Act forward, so we can get some market structure in place and start to move the innovation process along,” Solomon was quoted by Politico as saying in an interview reported Thursday. He reportedly called the bill imperf…
Goldman Sachs Wants Congress To Pass The Crypto Clarity Act. Other Banking Giants Are Still Pushing Back.
Goldman Sachs CEO David Solomon is backing congressional efforts to establish a federal framework for digital assets, lending fresh support from Wall Street to legislation that has sharply divided the banking industry.
Goldman Sachs CEO backs Clarity Act despite banking industry's concerns over stablecoin rules
The Goldman Sachs CEO said the crypto market structure bill would create a more stable regulatory framework, breaking with other major bank leaders who oppose key stablecoin provisions.
CLARITY Act Could Have Bigger Impact on XRP Than Many Expect, Developer Says
Software developer Vincent Van Code believes the proposed CLARITY Act could have a bigger impact on XRP adoption than many people expect. He argues that, although XRP's legal status is clearer today, important regulatory uncertainty still remains.Visit Website
Explainer: How the Clarity Act could transform crypto regulation in the US
U.S. Senate Republicans have introduced the long-awaited Clarity Act, a landmark bill aimed at creating a comprehensive regulatory framework for cryptocurrencies. The legislation seeks to clearly define the roles of financial regulators, promote broader adoption of digital assets, and enhance investor protection.
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