Senator rejects Republican crypto bill proposal
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- US Senator Ruben Gallego said a Republican counterproposal to the CLARITY Act is not a serious negotiating effort.
- The comments highlight ongoing disagreements over US cryptocurrency regulation.
- Lawmakers continue to debate how digital assets should be regulated.
US Senator Ruben Gallego criticised a Republican counterproposal to the CLARITY Act, calling it "not a serious effort."
The comments came as lawmakers continued negotiations over legislation for the cryptocurrency industry.
Gallego said both parties should work towards legislation that can gain broad support in Congress.
The debate focuses on how cryptocurrencies should be regulated and which agencies should oversee the industry.
The CLARITY Act aims to establish clearer rules for digital assets in the United States.
Lawmakers have continued negotiations as the crypto industry pushes for greater regulatory certainty.