12 Out Of 18 Democrats May Back Market Structure Bill, Sen. Tim Scott Says
Senate Banking Committee Chairman Tim Scott stated he believes that 12 out of 18 Democrats will again the Digital Asset Market Readability (CLARITY) Act throughout a serious crypto symposium stateside on August 19.
A Dozen Dems Might Get Behind CLARITY Act, Tim Scott Says
Talking on the SALT Wyoming Blockchain Symposium 2025 on Tuesday, Scott revealed he predicts {that a} majority of Democrats will vote in favor of the important thing crypto laws.
“I consider that we’ll have at the least 12 and 18 Democrats at the least open to voting for market construction,” Scott stated.
“The forces towards it, let me simply say clearly, like Senator Elizabeth Warren, standing in the best way of Democrats desirous to take part, it’s a actual power to beat,” he added.
Key Democrats Push Again On Crypto Laws
During a recent fireside chat with Subcommittee on Digital Property Chair Cynthia Lummis (R-Wyo.) and Government Director of the President’s Council of Advisers on Digital Property Bo Hines, Scott introduced that he was “ensuring” the market construction laws can be accomplished by September 30.
In the meantime, the GENIUS Act was formally ratified final month at a White Home signing ceremony, the place U.S. President Donald Trump praised the landmark stablecoin bill.
“Let me say, all the crypto neighborhood, for years you had been mocked and dismissed and counted out,” the president stated. “You had been counted out as little as a 12 months and a half in the past—however this signing is an enormous validation.”
Key gamers within the Democratic Social gathering, nonetheless, have pushed again towards sure items of crypto laws.
In July, Consultant Maxine Waters (D-CA) launched “Anti-Crypto Corruption Week,” the place she referred to as both the CLARITY and GENIUS Act “particularly harmful.”
“The CLARITY and GENIUS payments wrap themselves within the flag of innovation, however all they actually do is replicate the identical mess that led to previous monetary crises: They name for few rules, minimal enforcement, weak client protections, and extra business consolidation,” Waters stated.
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