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Newest draft of crypto Clarity Act could surface next week

The next draft would merge work from the Senate Banking and Agriculture Committees, but still depends on Senate Democrats reaching 60 votes to advance it.

Reported · Written up by our desk · Regulation

CoinDesk reports that lawmakers working on the Digital Asset Market Clarity Act, a proposed U.S. framework for regulating the crypto industry, may drop a new version as soon as next week.

Insiders told CoinDesk the latest draft would combine efforts from the Senate Banking Committee and the Senate Agriculture Committee, in a push for potential Senate action later in July, after momentum stalled for a period.

The reporting says the bill still lacks Democratic buy-in needed to move forward, and would require 60 votes to advance out of the Senate.

A key unresolved issue is ethics limits demanded by Senate Democrats, including restrictions on senior government officials, such as the president, from maintaining business ties with the crypto sector; CoinDesk also notes some ideas have been discussed, such as allowing state attorneys general to sue for ethics violations.

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