BlockBeats news: On January 30, the "Cryptocurrency Market Structure Act" (CLARITY Act) passed in the Senate Agriculture Committee on Thursday local time, but the divide between Democrats and Republicans has become increasingly pronounced. The final vote result was 12 to 11, with the voting pattern showing party-line divisions. All Democrats voted against the bill, and the disagreement centered on Trump and his family's interests in cryptocurrency.
In addition, an amendment proposed at the meeting to restrict the Trump family from profiting through cryptocurrencies failed to pass. Democratic Senator Michael Bennet said the issue touched the core of our democracy. He emphasized that it had nothing to do with cryptocurrency and was not specifically targeted at President Trump, but rather aimed at restoring a moral system that America deserves. The Trump family has already earned at least $1.4 billion from their cryptocurrency investments and also holds a 20% stake in the mining company American Bitcoin.