Senate Democrats reject the latest CLARITY Act draft citing insufficient ethics, consumer protection, and market integrity provisions, threatening bipartisan passage.
Regulation & Gov ·
Senate Democrats including Angela Alsobrooks, Cory Booker, and five others rejected the latest CLARITY Act draft, stating that provisions on ethics, consumer protection, illicit finance, and market integrity remain insufficient for their support. The group objected specifically to giving the Department of Justice sole enforcement authority over digital asset violations, with Alsobrooks arguing state attorneys general should share enforcement powers. Prediction markets have priced the bill's passage odds at around 31 percent as of this week, down significantly from above 70 percent following the Senate Banking Committee vote in May.