Cynthia Lummis
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“A Moonshot”: Clarity Act Ethics Text Under White House Review as Senate Recess Closes In
The Clarity Act, a bill concerning cryptocurrency regulation, is facing a tight deadline for Senate review before a scheduled recess. Ethics language for the bill is currently under White House review, with Senator Thom Tillis stating that passage before the break would be a "moonshot" unless the Senate delays its departure. Despite industry support, the bill's progress is hindered by ongoing negotiations and procedural hurdles.
Senate Negotiators Fold Ethics Rules Into Merged CLARITY Act Draft
Negotiators have merged drafts of the CLARITY Act, incorporating an ethics provision for federal officials, though enforcement mechanisms remain a point of contention. This legislation is crucial for defining the regulatory treatment of tokens and NFTs in play-to-earn crypto gaming models. The bill's passage hinges on resolving disputes over enforcement, with a motion to proceed expected soon.
