Sen. Elizabeth Warren (D-Mass.) criticized the updated Clarity Act on Tuesday, alleging it would worsen conflicts of interest stemming from President Donald Trump’s family ventures.
Warren Presses For Ethics Guardrails
The Senate Banking Committee released the new draft of the Clarity Act—a major legislation seeking to establish a federal regulatory framework for cryptocurrency in the U.S. The updated text addresses the sticking point of stablecoin yields.
Warren, however, who is a Ranking Member of the committee, was still unconvinced.
“Among other flaws, it will turbocharge the massive conflict of interests posed by Donald Trump and his family’s crypto ventures,” the senior lawmaker said, pressing for “real ethics” guardrails on cryptocurrency bills.
Warren has been a staunch critic of the Trump family-linked businesses, including the Official Trump (CRYPTO: TRUMP) and the World Liberty Financial platform.
The White House didn’t immediately return Benzinga’s request for comment.