Elizabeth Warren Said She Is Ready to Work on a New Crypto Law After the Failure of the CLARITY Act

• Elizabeth Warren said she is ready to take part in drafting a new crypto bill.
• The senator opposed the current version of the CLARITY Act over provisions on ethics, national security, and investor protection.
• She said Congress needs a “truly bipartisan” bill.

Democratic Senator Elizabeth Warren said she is ready to take part in preparing a new bill to regulate the crypto market. She told reporters this amid discussions of the CLARITY Act, The Block writes.

Reporters asked Warren whether she would be willing to take a leading role in crypto legislation if she were to chair the Senate Banking Committee in the future. The senator said yes.

“I would be happy to sit down at the negotiating table with other Democrats, Republicans, and industry representatives and craft a substantive crypto law that protects our national security and our economy, and reduces corruption risks,” Warren said.

She said an agreement is possible, but Republicans would need to compromise on contentious provisions tied to U.S. President Donald Trump.

Warren stressed that she generally supports passing federal legislation for cryptocurrencies. The Block quotes her as saying the CLARITY Act is one of the first opportunities to create meaningful regulation for the industry, but in its current form, the senator believes, it does not provide the necessary safeguards on ethics, national security, and combating illicit finance.