Warren Backs Crypto Legislation but Opposes Current CLARITY Act
JH Kim
Summary
- Sen. Elizabeth Warren said she supports legislation related to digital assets but opposes the current CLARITY Act.
- Warren said the CLARITY Act fails to address issues involving anti-corruption safeguards, consumer protection, national security and protection of the economy, and said the bill should not move forward until those issues are resolved.
- The CLARITY Act is not currently on the Senate calendar and has not secured the 60 votes needed for passage, while Republicans and Democrats continue negotiating over the bill’s details.
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Sen. Elizabeth Warren, one of Congress’s most prominent critics of digital assets, said she supports crypto legislation but opposes the current CLARITY Act, Binance News reported on August 6.
In an interview with Forbes, Warren said the CLARITY Act fails to address concerns over anti-corruption safeguards, consumer protection, national security and protection of the economy. The bill should not move forward until those issues are resolved, she added.
The CLARITY Act is not currently on the Senate calendar and has not secured the 60 votes needed for passage, the report said. Republicans and Democrats are continuing negotiations over the bill’s details.
JH Kim
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