Add as a preferred source on GoogleLummis Says Democrats Voted Against Closing Crypto Issuer Loopholes
She said Democrats voted against closing loopholes in the proposal, which aims to set clearer guidelines for crypto issuers.
Sen. Cynthia Lummis criticized Democrats over the proposed CLARITY Act, saying crypto issuers could avoid accountability by signing away obligations in contract fine print.
Lummis said Democrats voted against closing loopholes in the bill. The proposal aims to establish clear regulatory guidelines for crypto issuers and prevent ambiguous contract obligations from being used to evade securities-law requirements.
She has also tied the bill to U.S. anti-money-laundering compliance in a separate dispute over examinations for crypto firms.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.