US Democratic Senator Warns: Hastly Pushing to Vote on the Clarity Bill May Reverse the Legislative Process

Comparing news, US Democratic Senator Ruben Gallego said at the Wyoming SALT blockchain seminar that if the CLARITY Act is hastily pushed to be submitted to the Senate for a vote before ethical issues and stablecoin earnings disputes are resolved, it may reverse the US crypto market structure legislation process.

Gallego said the crypto industry should push for continued negotiations between the Democratic and Republican parties in the Senate rather than an immediate vote. Lawmakers still need to deal with the portion of the bill belonging to the Agriculture Committee, integrate the broader plan, and determine how to submit it to the House of Representatives, while trying to reach the 60-vote threshold required for Senate passage.

Gallego also said that he and Republican Senator Thom Tillis submitted a compromise version of the ethics clause to the White House before the congressional recess, but have yet to receive piecemeal feedback. He believes that sufficiently strict ethical restrictions are a necessary condition for gaining support from the Democratic Party and advancing the bill.

Trump urged Congress to pass a “fair version” of the CLARITY Act during a meeting with crypto industry executives at the White House on Wednesday. Senate leadership has delayed action until September, and Senate Majority Leader John Thune previously said that lawmakers will prioritize the bill after adjourning.