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The negotiations between the two parties over the Clarity Act have ended without an agreement.
Crypto news: Journalist Eleanor Terrett disclosed that bipartisan, small-group negotiations over the Clarity Act concluded that evening, but no agreement had been reached. Republican chief negotiator, Senator Cynthia Lummis, said that the parties had already agreed on 99% of the bill’s contents and that she hoped Democratic colleagues would continue to address the remaining 1% of differences after the bill passed through the committee; otherwise, if similar incidents like FTX were to happen again in the future, all parties would be hard to absolve. In the final stage, Democrats raised concerns about provisions related to the Blockchain Regulatory Certainty Act (BRCA), which aims to prevent non-custodial software developers from being sued under the money transmission laws. Terrett said that negotiations on the ethical issues made substantive progress, but the final differences over revisions to the BRCA prevented an agreement from taking shape.