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Democratic Senator Ruben Gallego warned on Aug. 19 that pushing the CLARITY Act to a Senate vote before lawmakers resolve disputes over ethics and stablecoin yield could set back US <a href="https://xpertsstudio.com/how-trump-is-pushing-congress-to-pass-crypto-market-legislation/” title=”How Trump is pushing Congress to pass crypto market legislation”>crypto market structure legislation rather than advance it.
Gallego made the remarks at the SALT Wyoming Blockchain Symposium, where he told attendees that the crypto industry should encourage senators on both sides to keep negotiating rather than force a vote. He said several steps remain before the bill is ready, including completing the Agriculture Committee portion, assembling the full package, and determining how to send it to the House.
Gallego Says White House Left Ethics Offer Unanswered
The CLARITY Act would create a federal framework for digital assets and divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Senate Majority Leader John Thune confirmed on Aug. 7 that the chamber was delaying the vote and said CLARITY would be the first item addressed when lawmakers returned from recess in September.
Related Article: White House Advisor ‘Bullish’ on CLARITY Act Before Sept. 15 Senate Vote
Gallego said he and Republican Senator Thom Tillis submitted compromise ethics language to the White House before the congressional recess but received no substantive reply. He said strong ethics restrictions are needed to secure Democratic support for the bill. “We’ve been sending offers over and over again to the White House, and they’ve been coming back either blank, or they’ve come back even slightly further back, or we’ve heard nothing,” he said.
The White House did not respond to a request for comment.
Trump Pushes for Vote as Disputes Linger
President Donald Trump called on Congress to pass a “fair version” of the CLARITY Act on Aug. 19 during a White House meeting with crypto executives. White House crypto adviser Patrick Witt previously said the administration would negotiate with Democrats through the September vote but “can’t afford to wait forever.”
Gallego said unresolved stablecoin yield disputes compound the ethics stand-off. “A fast vote gets you a fast result, but I’m not sure it’s the result you want,” he said, adding that any premature movement would push the bill further back, not closer to passage.
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