stable coins
By Evie Vavasseur
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Democrats Push Back Hard. Senator Mark Warner, one of the key negotiators, reportedly criticized the revised ethics…
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The 60-Vote Problem. Republicans need 60 votes to advance the bill. That's the math, and right now it doesn't work.
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Banks vs. Blockchain: Two Very Different Reads. Eight banking trade groups came out against the bill too — but for different reasons than the…
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Where Things Stand. Democrats have their counterproposal in Republican hands now.
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Polymarket traders aren't buying it. The odds of the CLARITY Act becoming law dropped to just 16% after key Senate Democrats rejected the Republican "final" offer on the crypto…
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That spike didn't last long. Skepticism crept in fast, and it's pretty much collapsed since.
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Senator Mark Warner, one of the key negotiators, reportedly criticized the revised ethics provisions as insufficient. That was basically the opening shot.
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So Democrats aren't just sitting on their hands. They've drafted a counterproposal and sent it over to Republican negotiators.
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Not every Democrat is walking away, though. Senator Kirsten Gillibrand has privately urged colleagues to support the procedural motion.
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Senator Cynthia Lummis said President Donald Trump already accepted two major ethics provisions. Per Lummis, there's basically nothing left to give.
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Read also: Letitia James Leads 17 AGs to Block Crypto Clarity Act Vote in Senate
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And it's not just Democrats creating friction. A coalition of 18 state attorneys general and tribal gaming interests also oppose the bill.
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The Blockchain Association sees it completely differently. CEO Summer Mersinger urged senators to support the legislation, pointing to its potential to establish clear rules,…
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Those two reads — banks warning of loopholes, crypto industry warning of lost opportunity — pretty much capture the split running through the whole debate.
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Democrats have their counterproposal in Republican hands now. Whether that leads anywhere is unclear. Lummis says there's no room left for concessions.
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