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Three senators oppose CLARITY Act, raising uncertainty on its Senate vote
The senators, joined by groups and actor Ben McKenzie, criticized the bill for not addressing alleged ethics concerns and said passage would require meeting a 60-vote threshold.
Three US senators, Chris Murphy, Jeff Merkley, and Chris Van Hollen, said they oppose the Digital Asset Market Clarity, or CLARITY, Act, as a Senate vote on the crypto market structure bill is expected soon. Cointelegraph reports Senate Majority Leader John Thune has indicated lawmakers will consider a vote before Aug. 10, but the bill’s prospects depend on whether it can win enough Democratic support.
At a Tuesday press conference, the senators and opposition voices argued the bill does not include ethics provisions they want, including what they described as addressing President Donald Trump’s ties to the crypto industry. Murphy said there was no reason to pass a new regulatory system for crypto without stopping what he characterized as industry corruption, and he argued the bill could instead protect Trump’s dominance over a sector he would regulate.
Cointelegraph reports the CLARITY Act has been discussed in the Senate since it passed the House almost a year ago as part of Republicans’ “Crypto Week” agenda, which also included signing the GENIUS stablecoin bill into law. The legislation must clear a 60-vote threshold to pass the Senate and then return to the House, giving the opposition bloc leverage over whether it advances.