US Senator Lummis: The ethical standards and other provisions in the Clarity Act will be discussed further

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PANews, July 23—CoinDesk reports that Cynthia Lummis, a key negotiator for the US Clarity Act and a senator, said that although the latest bill text has been released, several items—including moral clauses—will continue to be discussed over the weekend, and the latest text is not the final version. Lummis revealed that Republican negotiators and Democrats have been in talks for “several consecutive weeks,” but they have hit a stalemate on whether state attorneys general can file criminal or civil lawsuits under the moral clauses—a “clear red line” for many senators and the White House, since the White House has been sued multiple times by state attorneys general. Lummis said that states could instead sue crypto exchanges that list prohibited assets. Democratic senators said the bill is still not enough to win their support, and Elizabeth Warren believes the current text would hardly affect Trump’s crypto business; any wrongdoing would be ignored by the Department of Justice and granted automatic immunity after he leaves office. Lummis said anti-money-laundering provisions may continue to be negotiated, and new clauses include addressing crypto ATM fraud. The bill needs 60 votes to move forward. The Senate will adjourn on August 7, and the voting schedule is not yet clear.
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