Trump’s ethics concession addresses one hurdle for the crypto bill, but 18 state attorneys general say the revised legislation would weaken state oversight.
The CLARITY Act is heading for a crucial US Senate procedural vote on Tuesday after President Donald Trump agreed to most of a bipartisan proposal to strengthen ethics restrictions around public officials’ crypto interests, according to various reports.
However, the latest compromise hasn’t resolved all of the opposition, with a bipartisan group of state attorneys general now urging senators to reject the bill over concerns that it would weaken state oversight of the crypto industry.
A coalition of 18 state attorneys general, led by New York Attorney General Letitia James, argued in a letter to Senate Banking committee leaders that the CLARITY Act would make it harder for states to take action against crypto companies accused of fraud or other misconduct.
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