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