Democrats Prepare Counterproposal to GOP’s Revised CLARITY Act

Senate Democrats working on the crypto market structure bill are preparing a counterproposal to the Republicans’ revised CLARITY Act text. The GOP described the revision as their “last, best and final offer,” but some Democrats remain dissatisfied with the crypto ethics language.

Meeting in Senate Leadership Office

Democratic staff met in Senate Minority Leader Chuck Schumer’s office on Monday to discuss the issues. Senator Mark Warner said the Democrats are sending a counterproposal after the meeting.

Timing Ahead of Procedural Vote

The counterproposal is being drafted just hours before a Senate procedural vote on Tuesday that will decide whether the bill can move forward for floor consideration.