Democrats push back on GOP’s ‘final’ CLARITY offer with counterproposal: Politico

Senate Democrats working on the crypto market structure bill are reportedly preparing a counterproposal to the Republicans’ latest revised CLARITY Act text, despite GOP lawmakers describing it as their “last, best and final offer” to Democrats when they released it Sunday.

Democrats working on the bill met in Senate Minority Leader Chuck Schumer’s office on Monday, according to Politico. It is understood that some Democrats remain unsatisfied with crypto ethics language in the latest bill text.

“The Democrats who’ve been working on this in good faith are sending a counterproposal,” Senator Mark Warner told Politico as he exited the meeting.

The counterproposal comes ahead of a crucial Senate procedural vote on Tuesday, which will determine whether the Senate can advance the bill toward floor consideration.