Svmuu News: U.S. Democratic Senator Ruben Gallego stated that he will work with Republicans to introduce a counterproposal regarding the ethics provisions in the CLARITY Act that have been endorsed by the White House. He described the draft released this week as “not a serious proposal.”
U.S. Senate Republicans released a proposed text of the CLARITY Act on Wednesday, which includes ethics provisions prohibiting all U.S. federal officials—including President Donald Trump—from issuing or sponsoring any digital assets. Democrats believe these ethics provisions are insufficient.
Republican Senator Bernie Moreno denied that the provisions were weak, stating that the draft contains “the strongest ethics language in U.S. history.” Gallego said he would work with Senator Thom Tillis and other Republicans to advance a counterproposal and submit new text for the provisions.