Democrats slam ‘unserious’ ethics language in revised crypto bill

Homepage > News > Business > Democrats slam ‘unserious’ ethics language in revised crypto bill United States Senate Republicans added new ‘ethics’ language to their crypto market structure bill, but Democrats say it amounts to giving President Donald Trump a pass on his crypto profiteering. CLARITY Act adds ‘ethics’ language that Trump can live with Democrats call ethics proposal “wild and unserious and stone crazy” Most (but not all) Republicans praise new draft Illicit finance language aims to appease lawmen, prosecutors No changes to stablecoin rewards, no prediction market rules On July 22, Senate Republicans released a new draft of their digital asset market structure legislation (CLARITY Act), including a new ‘ethics’ section crafted following lengthy negotiations with the White House and President Trump. Notably, this ethics compromise was concluded without any input from Senate Democrats. Trump previously resisted any attempts to include language that might limit his ability to go on earning over a billion dollars per year from various crypto ventures. But with CLARITY needing 60 votes to pass, buy-in from Dems will be crucial, and many Dems had signaled that they’...