TechFlow News, May 14: According to cryptocurrency journalist Eleanor Terrett, bipartisan negotiations among U.S. Senate minority-party senators on the remaining disputed provisions of the Clarity Act concluded that evening without reaching an agreement; committee review is expected to proceed along party lines tomorrow.
Republican negotiator Cynthia Lummis stated that 99% of the bill’s content has already been agreed upon and expressed hope that the remaining 1% could be resolved after committee passage. Previously, Democrats had demanded a compromise first on ethics and conflict-of-interest provisions concerning the First Family, while also raising temporary concerns regarding provisions in the Blockchain Regulatory Certainty Act—specifically, a clause designed to prevent non-custodial software developers from being prosecuted under money transmission laws.
Sources indicate substantive progress has been made on ethics-related matters, but the final disagreement over revisions to the BRCA has impeded agreement.
