Democrats Want to Rewrite the CLARITY Act and Crypto Could Pay the Price
Democrats are reportedly preparing a major rewrite of the CLARITY Act after their midterm victory.
The proposed changes could give the SEC greater oversight of crypto markets. The language, highlighted by journalist Eleanor Terrett (
@EleanorTerrett), expands Rep. Maxine Waters' crypto investor bill.
Republicans have dismissed the effort as a "messaging bill."
The draft also includes stricter ethics rules for President Donald Trump (
@realDonaldTrump) and federal officials.
Crypto investor, Scott Melker, warned that the changes could affect Bitcoin and the wider crypto industry.
The proposal still faces Senate hurdles and a possible presidential veto.
Source: Benzinga