Dem senator calls GOP’s CLARITY ethics proposal a ‘piece of s---’: PoliticoOn Wednesday, Senate Republicans released the proposed text for the CLARITY Act, which has been met with pushback from Democrats regarding ethics provisions.
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Senate Republicans recently released the proposed text of the Digital Asset Market Clarity (CLARITY) Act, which includes ethics provisions that would bar all US federal officials, including former President Donald Trump, from issuing or sponsoring any digital assets. However, the ethics language in this draft has faced significant criticism from Democrats, who believe it is insufficient.
Democratic Senator Ruben Gallego described the Republican proposal as “not a serious effort” and referred to it as “whatever piece of s--- they sent back to us,” according to an interview with Politico. Gallego expressed frustration that after months of bipartisan discussions, the Republican draft seemed to disregard prior collaborative work. He stated that he will work with Republican senators, including Thom Tillis, to develop a counterproposal to improve the ethics provisions.
In contrast, Senate Republican Senator Bernie Moreno defended the provisions, calling the draft “the most powerful ethics language in US history.” Despite this disagreement, Gallego emphasized that negotiations are ongoing, saying, “We are still in this fight” and that Democrats plan to send back revised language.
This development matters because the ethics provisions in the CLARITY Act aim to regulate the involvement of federal officials in digital asset activities, a topic that has generated debate in Congress. The lack of agreement on the standards highlights the challenges in reaching bipartisan consensus on digital asset legislation that addresses both regulatory and ethical concerns.