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Three U.S. senators vote against the CLARITY Act on moral grounds
Deep Tide TechFlow message: On July 16, according to Cointelegraph, U.S. Democratic Senators Chris Murphy, Jeff Merkley, and Chris Van Hollen jointly opposed the “Digital Asset Market Clarity Act” (CLARITY Act), arguing that the bill does not address conflicts of interest involving Trump’s dealings with the memecoin market and World Liberty Financial company and the broader crypto industry.
Senate Majority Leader John Thune pledged to hold a vote on the bill before the August 10 adjournment. The CLARITY Act needs 60 votes to pass the Senate, and Republicans currently hold a narrow majority with a 52-47 seat tally. Despite the ethical controversy, the bill has gained support from Trump and law-enforcement groups such as the National Black Law Enforcement Officers Association, among others.