CLARITY Act Talks Yield Productive Results, Ethics Hurdle Remains

Legislators working on the CLARITY Act are nearing an agreement on the bill's ethics provisions, the most contentious aspect of the legislation. The talks resumed on Capitol Hill last Tuesday with a focus on refining the language around enforcement. A spokesperson for Senator Cynthia Lummis stated that the conversation between her office and the White House was productive, implying that a resolution may be close.

According to insiders, lawmakers are discussing both DeFi provisions and ethics simultaneously, but progress hinges on resolving the ethics question first. The current proposal would place the Department of Justice in charge of enforcement rather than state attorneys general. Senator Bernie Moreno confirmed this plan, saying 'we'll keep working from that floor to reach an agreement that holds us all accountable.'

Alsobrooks's continued support is crucial; her vote gave the bill momentum in committee, and losing it would complicate the path to the 60-vote threshold needed for Senate advancement. Senate Majority Leader John Thune expressed a cautiously optimistic view when asked about the bill's prospects, stating that there is 'a good chance' of reaching a deal.