Bipartisan negotiations among U.S. senators on the Clarity Act concluded without a deal, as last-minute disagreements over the Blockchain Regulatory Certainty Act (BRCA) prevented consensus. Lead GOP negotiator, Senator Lummis, expressed optimism about resolving the remaining issues, emphasizing the importance of passing the bill to prevent future crises like FTX.
Democratic senators, including Adam Schiff and Ruben Gallego, sought compromises on ethics and conflicts of interest involving the First Family, while others raised concerns about BRCA provisions that would shield non-custodial software developers from prosecution under money transmitter laws. Despite progress on ethics, the unresolved BRCA issues leave the outcome of tomorrow's committee vote uncertain, with expectations of a partisan divide.
Bipartisan Senate Negotiations on Clarity Act Stall Over Blockchain Provisions
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