On September 15, crypto journalist Eleanor Terrett reported that industry insiders expect the Democratic counterproposal based on the Clarity Act to respond to most, if not all, of the amendments made by Republicans last night. It remains unclear whether the GOP will make further concessions before tomorrow's vote or will tell Democrats, 'If you want more changes, you need to vote first.'
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Democrats' Clarity Counterproposal to Address Most, if Not All, GOP Amendments
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US Spot Ethereum ETF Sees Net Inflow of $121.02 Million Yesterday
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New York Attorney General Letitia James Leads Bipartisan Coalition of 17 Attorneys General Against the CLARITY Act
Eighteen state attorneys general, led by New York Attorney General Letitia James, sent a letter to the leadership of the Senate Banking Committee on September 14, urging the Senate to reject the CLARITY Act in its current form. The letter points out that the bill would undermine law enforcement authority at the state level, especially as fraudulent activities in the digital asset space continue to escalate. This coalition is notably bipartisan, with Republican attorneys general from Kansas and Ohio joining their Democratic counterparts in opposing the legislation. -
U.S. Senate to Hold Procedural Vote on CLARITY Act at 2:15 AM Beijing Time on September 16
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Senator Lummis: Current CLARITY Act is the Best Compromise Version, but Democrats Demand Further Changes
On September 15, U.S. Republican Senator Cynthia Lummis stated that after the Senate Republicans unveiled the final compromise version of the CLARITY Act over the weekend, Democrats are still calling for more modifications. She remarked, "Democrats want more; they always want more. If we wait another month, they will come up with more demands." Lummis noted that Republicans have made concessions on 114 specific policies during negotiations, including legal protections for DeFi developers and restrictions on government officials' interests in cryptocurrency businesses. She expressed surprise that Trump agreed to the further tightened ethical provisions in the new draft. The Senate is set to hold a procedural vote on Tuesday, and the bill requires at least 60 votes to advance. Lummis indicated that it is currently uncertain whether sufficient support can be garnered and stated that the current version "is already the best result that can be achieved," and that there is no capacity for another round of modifications. -
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