US Democrats unhappy with CLARITY Act 'final package,' set to propose counterproposal

BlockBeats news, September 15 — According to Politico, Senate Democrats involved in negotiations over U.S. crypto market structure legislation are preparing to submit a counterproposal to the Republicans' latest revised version of the CLARITY Act. When Republican lawmakers released the new text on Sunday, they described it as a "last, best, and final offer" to Democrats, but some Democrats are still unwilling to accept the current version.

Relevant Democratic lawmakers met on Monday at the office of Senate Minority Leader Chuck Schumer, focusing on the latest text of the bill. The report said some lawmakers remain dissatisfied with its ethics provisions concerning the crypto industry and want Republicans to further adjust the relevant content. Senator Mark Warner said while leaving the meeting, "Democrats who have been participating in this work in good faith will submit a counterproposal."

The counterproposal is expected to be delivered to Republicans just hours before a key procedural vote begins on Tuesday. This vote will not determine the bill's final passage, but rather whether the Senate can formally move forward with the CLARITY Act, allowing it to enter full chamber consideration and subsequent debate. The Democrats' latest move means the two sides still have not reached a final consensus on the ethics provisions before the vote.