Rushed CLARITY Act vote could set legislation back, Gallego warns

Democratic Senator Ruben Gallego warned that rushing the CLARITY Act to a Senate vote before lawmakers resolve disputes over ethics and stablecoin yield could set United States crypto market structure legislation back.

Speaking at the SALT Wyoming Blockchain Symposium on Wednesday, Gallego said the crypto industry should encourage Senate Democrats and Republicans to continue negotiating instead of pushing for an immediate vote. He said lawmakers still had to address the bill’s Agriculture Committee portion, assemble the broader package and determine how to send it to the House. 

The warning complicates the Trump administration’s push for swift passage by suggesting that a procedural vote could arrive before negotiators have assembled the bipartisan coalition needed to reach the Senate’s 60-vote threshold. 

“Don’t go for a fast vote,” Gallego said. “A fast vote gets you a fast result, but I’m not sure it’s the result you want.” He added that Congress still had a lot of steps to complete and that “any premature movement is going to set it back further.”

Gallego says White House has not answered ethics proposal 

Gallego said he and Republican Senator Thom Tillis submitted compromise ethics language to the White House before the congressional recess but had not received a point-by-point response. He said that sufficiently strong ethics restrictions were necessary to attract Democratic support and advance the bill.