Gallego warns rushed CLARITY Act vote could backfire

• Senator Ruben Gallego warned that rushing the CLARITY Act could set the legislation back.
• The Senate plans a September vote, but lawmakers still face disputes over ethics and stablecoin yield.
• Gallego said Democrats and Republicans should keep negotiating before seeking a vote.

Senator Ruben Gallego warned that rushing the CLARITY Act could set US crypto legislation back.

Gallego said lawmakers still need to resolve ethics and stablecoin yield issues before voting.

“Don’t go for a fast vote,” Gallego said, warning that a quick vote could produce an unwanted result.

He said lawmakers must also address the Agriculture Committee section and combine the wider legislative package.

Gallego and Republican Senator Thom Tillis sent an ethics proposal to the White House before the recess.

Gallego said the White House had not provided point-by-point feedback on the proposal.

Senate leaders have delayed action until September, with the chamber expected to consider the CLARITY Act after its recess.