Democrats push back on GOP’s ‘final’ CLARITY offer with counterproposal: Politico
Senate Democrats who have been negotiating the CLARITY Act plan to send a counterproposal to Republican leaders after reviewing the GOP's most recent revised text, Politico reports. The move follows a Monday meeting in Senate Minority Leader Chuck Schumer’s office and comes hours before a crucial procedural vote set for Tuesday.
Why It Matters
The counterproposal could alter negotiations on the crypto market-structure bill and influence whether the Senate can move the measure to full floor consideration, as the procedural vote will determine whether the chamber advances the legislation.
Key Facts
- Reporting outlet: Politico (reported via Cointelegraph summary)
- GOP description of revised text: Called it their "last, best and final offer" when released Sunday
- Democratic meeting: Senate Democrats met in Chuck Schumer’s office on Monday
- Democratic action: Senators negotiating the bill will send a counterproposal
- Quote: Senator Mark Warner said, "The Democrats who’ve been working on this in good faith are sending a counterproposal." — as he exited the meeting, per Politico
Senate Democrats engaged in negotiations over the CLARITY Act are preparing a formal counterproposal to the Republicans’ latest revised text, according to reporting by Politico. GOP lawmakers had characterized their update as the "last, best and final offer" when it was made public on Sunday, but some Democrats remain unhappy with elements of the draft.
Lawmakers working on the bill convened in Senate Minority Leader Chuck Schumer’s office on Monday to discuss the Republican text and next steps. Sources cited by Politico say the sticking point for some Democrats is language in the bill related to crypto industry ethics and oversight.
As he left the meeting, Senator Mark Warner confirmed to reporters that Democrats who have been negotiating in good faith will send a counterproposal to Republicans. That submission is expected to arrive just hours before a key procedural vote in the Senate on Tuesday.
The upcoming vote will decide whether the chamber can move the CLARITY Act closer to full floor consideration. Related reporting notes the bill has also faced opposition from some state attorneys general ahead of the scheduled vote.
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Original source: Cointelegraph