18 Attorneys General Challenge CLARITY Act Ahead of Senate Vote
Senate Republicans have added language giving state attorneys general a role in enforcing parts of the CLARITY Act. That has not resolved the larger dispute over whether the crypto market-structure bill would weaken powers states already have under their own laws.
London's trading industry is coming home!
New York Attorney General Letitia James is leading a bipartisan coalition of 18 attorneys general calling on Congress to revise or reject the legislation.
In a letter to Senate Banking Committee leaders, the group argued that the bill could restrict state registration rules and enforcement powers used in crypto fraud cases.
The letter was released one day before the Senate’s scheduled procedural vote on September 15. The vote is on cloture, a procedural step that would allow the Senate to begin considering the bill. It is not a final vote on passage.
Sixty votes are required, meaning Republican senators need support from Democrats or independents even if all 53 Republicans vote in favour.
New State Powers Do Not Answer Existing Concerns
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