U.S. Democratic Senator Criticizes GOP CLARITY Act Ethics Draft as Unserious

iconKuCoinFlash
Share
This is the logo of the coin.
XRP
$1.02-1.25%
This is the logo of the coin.
BTC
$64,937.400.76%
This is the logo of the coin.
ETH
$1,916.880.56%
AI summary iconSummary
U.S. Democratic Senator Ruben Gallego criticized the GOP-drafted ethics provisions in the CLARITY Act as unserious and called for a counter-proposal. The draft, introduced by Republicans, prohibits federal officials from endorsing digital assets. Gallego plans to collaborate with Senator Thom Tillis to submit revised language. CFT concerns remain central to regulatory discussions. BTC as a hedge against inflation continues to draw attention among lawmakers. Republican Senator Bernie Moreno called the draft the strongest ethics language in U.S. history.

Odaily Planet Daily reports that U.S. Democratic Senator Ruben Gallego stated he will collaborate with Republicans to introduce a counter-proposal for the ethical provisions in the CLARITY Act, which have been endorsed by the White House. He described the draft released this week as "not a serious proposal." On Wednesday, Republican senators in the U.S. Senate released the proposed text of the CLARITY Act, which includes ethical provisions prohibiting all U.S. federal officials, including President Donald Trump, from issuing or endorsing any digital assets. Democrats argue that these ethical provisions are insufficient. Republican Senator Bernie Moreno denied that the provisions are weak, stating that the draft contains "the strongest ethical language in U.S. history." Gallego said he will work with Senator Thom Tillis and other Republicans to advance a counter-proposal and submit new textual provisions.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.