US senators file over 100 amendments to crypto bill ahead of markup

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An excerpt of the leaked list showing amendments for debate by Senator Jack Reed, with one supported by Senator Tina Smith. Source: Politico Another planned amendment from Democratic Senator Chris Van Hollen pitches an ethics provision that Democrats and some Republicans have supported, which would bar the president, vice president, senior officials, members of Congress and their families from owning, promoting or being affiliated with crypto. Related: Seven Democrats seen as ‘key’ to advancing CLARITY Act: Galaxy Democratic Senator Catherine Cortez Masto also plans an amendment protecting software developers by “creating a safe harbor from criminal liability for not registering as a money transmitter,” a provision that is supported by many crypto groups. Other amendments concern sanctions, institutions engaging in crypto, and one from Democratic Senator Andy Kim that seeks to reestablish the Justice Department’s National Cryptocurrency Enforcement Team, which the department dismantled in April last year. Republicans have a majority on the Banking Committee and in the Senate, but some party members, such as Senator Thom Tillis, have said they won’t support the bill without certain provisions. Republicans also control the Senate, but will need some Democrats onside to pass it with a three-fifths majority to end any potential debate on the bill. Magazine: Will the CLARITY Act be good — or bad — for DeFi? More on the subject

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