U.S. Democratic senators say Clarity Act draft needs revisions

Key Democratic negotiators in the U.S. Senate said the latest draft of the Clarity Act released by Republicans needs revisions, according to CoinDesk. In a joint statement, senators including Angela Alsobrooks and Cory Booker said the draft falls short on key provisions covering ethics and consumer protection, and argued it should be strengthened on anti-money laundering, conflict-of-interest safeguards and market integrity. They also said they will continue negotiations with Republicans to advance the bill. Because the Clarity Act needs 60 votes to pass the Senate, Democratic support is essential. Republicans earlier that day released a revised version of the bill that included a ban preventing federal officials, including President Donald Trump, from issuing or sponsoring cryptocurrencies.