Key facts
- US Senators Thom Tillis and Ruben Gallego have sent revised ethics guidelines to the White House.
- The proposed changes are part of the Digital Asset Market Clarity (CLARITY) Act.
- The revisions would shift enforcement of a ban on federal officials issuing or sponsoring tokens from the US Attorney General to state authorities.
- Senator Ruben Gallego previously stated that ethics, consumer protection, illicit finance, conflicts of interest, and market integrity provisions must be strengthened.
- The CLARITY Act requires bipartisan support to pass the Senate before the upcoming recess.
Two US senators, Thom Tillis and Ruben Gallego, have reportedly submitted revised ethics guidelines to the White House as part of ongoing negotiations for a cryptocurrency market structure bill, known as the Digital Asset Market Clarity (CLARITY) Act. The proposed changes, detailed in a PunchBowl report, would shift the authority for enforcing a ban on federal officials issuing or sponsoring tokens from the US Attorney General to state authorities.