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Elizabeth Warren criticizes new Clarity Act crypto draft
Warren argues the draft does not stop President Donald Trump from profiting from crypto, while pointing to an ethics omission she says would leave investors exposed.
Democratic Senator Elizabeth Warren criticized a new draft of the so-called Clarity Act, saying it would make it easier for “criminals, cartels and terrorists” to move money, while failing to protect investors and the financial system, according to a video statement shared on X on Wednesday.
Warren also argued the draft would not prevent President Donald Trump from “cashing in” on his presidency, and she referenced Trump’s potential next $1.4 billion from crypto, calling the bill a giveaway rather than regulation.
The article says lawmakers are working through the latest Clarity Act draft, which targets digital asset regulation and includes a ban on officials and their families from issuing or promoting crypto.
It adds that X users pointed out the updated Senate GOP text includes ethics provisions barring federal officials from issuing or sponsoring digital assets, and the piece notes Warren has previously pressed for investigations tied to the Trump family’s crypto ventures and broader crypto tax avoidance concerns.