Gallego warns against rushing CLARITY Act vote

Senator Gallego warns that rushing the CLARITY Act could harm bipartisan crypto legislation efforts, citing unresolved disputes and urging continued negotiations over immediate action.

Senator Ruben Gallego has cautioned against rushing the CLARITY Act to a Senate vote, warning it could undermine bipartisan negotiations and delay the establishment of a comprehensive U.S. crypto market structure. Speaking at the SALT Wyoming Blockchain Symposium, Gallego highlighted ongoing disputes over ethics provisions, stablecoin rewards, and Agriculture Committee jurisdiction. He also noted the lack of detailed feedback from the White House on bipartisan ethics language submitted before the congressional recess. Gallego urged the crypto industry to support continued negotiations between Senate Democrats and Republicans, rather than pushing for an immediate vote. He warned that a hasty vote could lead to unfavorable outcomes for the industry and legislative process. A procedural cloture vote is set for September 15, requiring 60 votes to advance. Any Senate amendments would require further House action before the bill could reach the President. Gallego criticized the administration's reluctance to compromise, especially on ethics amendments, and emphasized that significant work remains before the bill is ready for passage.