Murphy attacks CLARITY Act over Trump ties
Share
- Senator Chris Murphy criticised the CLARITY Act during a Senate debate.
- He claimed the bill could benefit President Donald Trump's crypto interests.
- Supporters said the legislation would provide clearer rules for digital assets.
US Senator Chris Murphy criticised the proposed CLARITY Act, arguing the legislation could benefit President Donald Trump's cryptocurrency business interests.
Murphy described the bill as a "crypto shield" for Trump and called on lawmakers to strengthen conflict-of-interest protections before advancing the legislation.
“This is a crypto shield for Donald Trump,” Murphy said.
Supporters of the CLARITY Act said the bill would create clearer rules for digital assets by defining the responsibilities of financial regulators and giving the industry greater regulatory certainty.
The legislation is one of several crypto bills under consideration in Congress as lawmakers debate how digital assets should be regulated in the United States.
The debate comes as scrutiny grows over Trump's links to cryptocurrency projects, prompting calls from some lawmakers for stronger ethics safeguards.
The CLARITY Act remains under consideration and has not yet become law.