The Clarity Act faces new resistance ahead of the key vote.
TechFlow reports that on September 15, according to Cointelegraph, the Clarity Act, which aims to establish a federal market structure for crypto assets and clarify the regulatory responsibilities of the SEC and CFTC, is approaching a critical procedural vote in the Senate.
Although it has previously been passed, the bill now faces new opposition from a bipartisan coalition of 18 state attorneys general led by New York Attorney General Letitia James. In a letter, they argue that the legislation will make it more difficult for states to prosecute crypto companies suspected of fraud or other violations, thereby undermining the oversight capabilities of local authorities.
Addressing disputes in the legislative process, President Trump has agreed to accept an amendment proposed by Senators Thom Tillis and Ruben Gallego regarding ethics restrictions. Under the latest compromise, federal officials with significant financial interests in crypto issuers must divest related holdings or place them in blind trusts.
