US Senator Klobuchar: 'Major Overhaul Needed for Virtual Asset Bill'

YM Lee

Summary

U.S. Senator Amy Klobuchar expressed a critical stance on the Virtual Asset Market Structure Bill, which was put to a vote in the House.
Senator Klobuchar stated that major changes are needed for the virtual asset bill, raising concerns about consumer protection and the possible undermining of existing securities regulations.
Senator Klobuchar has previously indicated opposition to the Senate’s GENIUS Act during an earlier vote.

Senator Amy Klobuchar, a Democrat from the United States, voiced criticism today regarding the Virtual Asset Market Structure Bill (Clarity Act), which was put to a vote in the House.

According to a report by CoinDesk on the 16th (local time), Senator Amy Klobuchar emphasized, “Major changes are needed in U.S. virtual asset legislation. To oversee a rapidly growing new market, it is important to ensure consumer protections while also closing any potential loopholes that could undermine existing securities regulations.”

Amy Klobuchar previously voted against the Senate's GENIUS Act during a past session.