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Senate Republicans say crypto bill likely to fail
Semafor • • business
Key Points:
- Republican senators caution that the Senate's bipartisan cryptocurrency regulatory bill is likely to fail next week due to unresolved issues, particularly a key Democratic demand for an ethics component involving the president and his family.
- Senators Mike Rounds and Thom Tillis emphasized that without White House cooperation on the ethics language, the bill's passage is doubtful.
- The White House insists President Trump strongly supports the CLARITY Act, highlighting efforts to include a comprehensive ethics provision and maintain U.S. leadership in innovation.
- A failed vote on the bill could prompt increased spending by the crypto industry in upcoming elections, though some senators report low constituent interest in the legislation.
- Senator Roger Marshall noted that the crypto bill is not a significant concern among voters in his state, indicating limited grassroots pressure on the issue.
