Democrats Reject Latest CLARITY Act Draft Over Ethics, Illicit Finance Concerns

Senate Democrats have rejected the latest draft of the CLARITY Act due to concerns regarding ethics and illicit finance. Lawmakers specifically object to the Department of Justice having sole enforcement power, arguing that state attorney generals must also be involved. Describing the DOJ-only approach as unserious, Democrats are stalling the bill's progress. This occurs as Thune seeks to bring the legislation to a floor vote before the upcoming August recess to address crypto regulations.