Senate Democrats Counter GOP's 'Ultimate' CLARITY Act Proposal: Politico Reports

Senate Democrats Counter GOP's 'Ultimate' CLARITY Act Proposal: Politico Reports

According to reports, Senate Democrats are crafting their own proposal in response to the Republican Party's 'ultimate' CLARITY Act proposition before Tuesday's critical procedural vote.

Democratic senators involved in negotiations over the cryptocurrency market structure legislation are crafting their own counterproposal in response to the most recent revised CLARITY Act text from Republicans, even though GOP legislators characterized their Sunday release as their "last, best and final offer" to their Democratic counterparts.

According to Politico, Democratic lawmakers working on the legislation held a meeting in the office of Senate Minority Leader Chuck Schumer on Monday. Sources indicate that certain Democrats continue to express dissatisfaction with the crypto ethics provisions included in the most recent version of the 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 Democratic counterproposal arrives in advance of a critical procedural vote scheduled for Tuesday in the Senate, a vote that will decide whether the legislation can move forward toward consideration on the Senate floor.