Senator Lummis confirms negotiations continue on ethics rules and other clauses in the Digital Asset Market Clarity Act ahead of a vote.
The U.S. Senate’s Digital Asset Market Clarity Act remains subject to revisions, including its ethics provisions, after an updated draft was released. Senator Cynthia Lummis, a lead negotiator, said Republican lawmakers insisted on allowing state attorneys general to pursue cases under the ethics section, calling it a non-negotiable demand. Democrats have already signaled opposition to the current version, indicating further discussions are needed before a vote can proceed.
The bill, which merges proposals from the Senate Banking and Agriculture Committees, has undergone input from multiple panels, including Judiciary and Ethics. Lummis described the process as challenging but noted the draft is now ready for industry feedback. Key sticking points, such as enforcement authority and regulatory scope, are expected to dominate weekend negotiations.
Market participants await clarity on the final text, which could shape oversight for digital asset markets. The bill’s progress reflects growing bipartisan pressure to establish regulatory guardrails amid industry growth.