Democrats send counteroffer to Republicans over Clarity Act provisions

The counteroffer comes a day after Senate Republicans began circulating a new draft of the Digital Asset Market Clarity Act. The bill is scheduled to have its first vote on Tuesday afternoon. CoinDesk could not immediately confirm the details of the counteroffer, beyond that it was sent. Politico first reported that the counteroffer was made.

Ahead of the formal counterproposal, numerous Democrats, including those who might be likely to vote for the bill, said they had concerns about the revised ethics proposal. The chief complaint seemed to be that even this updated language would block state attorneys general from directly bringing a lawsuit or enforcement action against the U.S. president, and that the Office of Government Ethics could issue a notice allowing senior government officials to continue with their crypto business ties.