Senate Democrats Say Clarity Act’s New Ethics Language Still ‘Falls Short’

A group of Senate Democrats central to advancing the crypto market structure bill said Wednesday that the latest Republican draft still needs work, particularly on ethics and consumer protection.

Core Negotiators Push Back

Senators Angela Alsobrooks, Cory Booker, Catherine Cortez Masto, Ruben Gallego, John Hickenlooper, Mark Warner and Raphael Warnock said in a joint statement that the Digital Asset Market Clarity Act “falls short” as written. They pointed to weak provisions on ethics for elected officials, illicit finance, conflicts of interest and market integrity. Alsobrooks and Gallego were the only Democrats to back the bill in committee so far.

The updated text, released earlier Wednesday, includes ethics language the White House and President Trump agreed to. Senator Bernie Moreno called it the strongest ethics language in the country’s history and dismissed criticism from Democrats.

Trump’s Crypto Earnings Fuel Debate

The ethics fight has simmered for over a year, dating back to work on the GENIUS Act, but gained new urgency after Trump disclosed earning more than $1.4 billion from crypto ventures in 2025.

Majority Leader John Thune’s office says he still plans to move the bill forward soon, though the Senate needs 60 votes, meaning up to 10 Democrats must back it before recess begins August 7.