Gallego said the White House has not provided point-by-point feedback on a bipartisan ethics proposal as a September vote approaches.
Democratic Senator Ruben Gallego warned that rushing the CLARITY Act to a Senate vote before lawmakers resolve disputes over ethics and stablecoin yield could set US crypto market structure legislation back.
Speaking at the SALT Wyoming Blockchain Symposium on Wednesday, Gallego said the crypto industry should encourage Senate Democrats and Republicans to continue negotiating instead of pushing for an immediate vote. He said lawmakers still had to address the bill’s Agriculture Committee portion, assemble the broader package and determine how to send it to the House.
The CLARITY Act would establish a federal framework for digital assets and divide oversight between the Securities and Exchange Commission and Commodity Futures Trading Commission. On Aug. 7, Senate Majority Leader John Thune confirmed to Cointelegraph that the chamber was “punting” the vote and said CLARITY would be queued up “first thing” after lawmakers returned from recess in September.
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