TechFlow reports that on July 16, according to Cointelegraph, U.S. Democratic Senators Chris Murphy, Jeff Merkley, and Chris Van Hollen jointly opposed the "Digital Asset Market Clarity Act" (CLARITY Act), arguing that the bill fails to address Trump's conflicts of interest with the crypto industry through Memecoins and World Liberty Financial.
Senate Majority Leader John Thune pledged to vote on the bill before the recess on August 10. The CLARITY Act needs 60 votes to pass the Senate; currently, Republicans hold a slim majority with only 52-47 seats. Despite ethical controversies, the bill has gained support from Trump and law enforcement groups such as the National Organization of Black Law Enforcement Executives.
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