Sen. Katie Wallace: Stop Donald Trump’s crypto scam — Why Colorado’s senators must vote "No" on the CLARITY Act (guest opinion)

These days it seems like Washington, D.C., is overflowing with public officials using their office as a personal piggie bank and for politicians looking for the next scam or grift to get rich quick. I’m disgusted by it, and I know Coloradans are too. In our state, we expect our leaders to fight for working families, protect consumers and uphold the rule of law. We have zero tolerance for corrupt politicians using the immense power of government to line their own pockets.

In the midst of all this corruption, we have the CLARITY Act — a cryptocurrency bill advancing through the U.S. Senate. This largely Republican-backed bill is a top priority of Donald Trump, his administration and a boatload of high-priced lobbyists for the crypto industry. It is also an utter disgrace and an executive branch cash-grab disguised as market regulation, but designed to turn the United States Congress into a rubber stamp for Donald Trump’s private business ventures.

Democratic Senators who claim to want to stand up to Trump and this corrupt administration have no business lending their votes to pass this bill, and I am urging Colorado’s U.S. senators, John Hickenlooper and Michael Bennet, to resist this shameless grift, refuse to break ranks, and vote No on the CLARITY Act.