A group of Democratic lawmakers, pivotal to the advancement of the crypto market structure bill, voiced concerns about the recently released draft by Republicans.
By Nikhilesh De|Edited by Jesse HamiltonUpdated Jul 22, 2026, 10:48 p.m. Published Jul 22, 2026, 10:22 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Senator Angela Alsobrooks (Finn Gomez/Getty Images)A coalition of U.S. Senate Democrats expressed that the latest version of the crypto market structure bill does not adequately address ethical standards and other critical aspects.
Senators Angela Alsobrooks, Cory Booker, Catherine Cortez Masto, Ruben Gallego, John Hickenlooper, Mark Warner, and Raphael Warnock, who are key figures in negotiations for the bill, issued a collective statement to CoinDesk indicating their willingness to collaborate with Republican members on the Digital Asset Market Clarity Act (Clarity Act). However, they emphasized that the bill requires further refinement on several pressing matters, particularly those concerning illicit financing and consumer safeguards.
Only Alsobrooks and Gallego supported the Clarity Act during the committee vote, although the other signatories have shown past backing for the legislation.
"The current text proposed by Republicans for the CLARITY Act is insufficient," the statement noted. "Essential elements related to ethics for officials, consumer protection, illicit finance, conflicts of interest, and market integrity need to be bolstered."
Earlier Wednesday, Senate Republicans unveiled a new version of the Clarity Act that included an ethics clause agreed upon by the White House and President Donald Trump.
Senator Bernie Moreno, a prominent Republican figure associated with the bill, claimed in a post on X (formerly Twitter) that it contained "the most powerful ethics language in U.S. history."
“Disregard the misinformation from DC Democrats,” he stated.
This ethics clause has been a contentious point for over a year, dating back to the Senate's discussions on the stablecoin-focused Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The issue gained renewed attention recently following Trump’s latest financial disclosure, which revealed he earned over $1.4 billion from his cryptocurrency ventures in 2025.
The timeline for when the bill will be presented on the Senate floor remains unclear; however, Republican Majority Leader John Thune's office informed CoinDesk that plans to proceed are still in place for the near future.
With the Senate set to recess after August 7, there are additional matters on the legislative agenda. The Clarity Act will require 60 votes to advance, indicating that up to 10 Democrats may need to support it. "We have been negotiating in good faith with our Republican colleagues for the past year and will continue to do so to bring this bill to completion," the Democratic lawmakers stated.
UPDATE (July 22, 2026, 22:48 UTC): Includes Moreno's post.
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Crypto Flows, Share and the Selective Rotation
Crypto Flows, Share and the Selective Rotation
Since June, markets have shifted, but Binance retained its share (~55% of user funds, ~24% of spot trading) and attracted net inflows in early July, contrasting with outflows in the broader market.
By CoinDesk Research8 hours agoSince June, markets have shifted, but Binance retained its share (~55% of user funds, ~24% of spot trading) and attracted net inflows in early July, contrasting with outflows in the broader market.
Why it matters:
Since June, markets have shifted, but Binance retained its share (~55% of user funds, ~24% of spot trading) and attracted net inflows in early July, contrasting with outflows in the broader market.
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