Senate Democrats who back crypto rules are still not happy with the fresh CLARITY Act version because ethics consumer protection illicit finance conflicts of interest and market integrity parts feel weak 🖤.
Democrats Demand Tighter Crypto Rules 🌑
The latest version released July 22 by Senate Republicans adds an ethics package from White House talks with Cynthia Lummis and Bernie Moreno. It stops the president vice president Congress members federal judges and their spouses from launching or promoting digital assets for pay while in office and that ban ends January 20 2029. Covered officials must sell crypto or move it into blind trusts while the Department of Justice gains civil power to sue exchanges listing banned tokens 🕸️.
After sharing the text with Democrats Senators Angela Alsobrooks Cory Booker Catherine Cortez Masto Ruben Gallego John Hickenlooper Mark Warner and Raphael Warnock said the ethics and key sections still need work 🦇. Their note stated the Republican text falls short and must strengthen those exact provisions. They mentioned working in good faith for a year and will keep trying until passage. Alsobrooks called the DOJ-only enforcement idea wild and unserious.
Securities lawyer Amanda Fischer posted that the draft fails to fix Trump crypto issues since it skips immediate divestment and hands control to appointee Todd Blanche.
the draft doesn’t change much at all about Trump’s existing crypto grift since it doesn’t force immediate divestment and leaves enforcement to Trump’s own appointee Todd Blanche
— Amanda Fischer (@amandalfischer) view tweet
Blockchain Regulatory Certainty Act sections stay the same protecting non-custodial developers and keeping self-custody safe. The stablecoin rewards deal holds while new enforcement adds funding for blockchain probes training a cyber center against nation-state threats and ways for issuers to freeze tokens when needed 🕷️.
CLARITY Act Still Needs 60 Votes to Pass 🌙
The House approved its version 294-134 in July 2025 and the Senate Banking Committee moved the draft forward in May with two Democrats supporting. Reaching 60 votes remains tougher and prediction markets show odds of passage this year dropped to around 31 percent. Former CFTC Chairman Chris Giancarlo sees over 50 percent chance of failure yet notes the SEC and CFTC already run frameworks that can keep innovation going without the bill 💀.
there is a greater than 50% chance the CLARITY Act ultimately fails though the SEC and CFTC have frameworks supporting innovation even without it
— Eleanor Terrett (@EleanorTerrett) view tweet
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Just another echo from the void by iconofsin.eth 💖
