Senate Democrats Signal Need for Strengthened Ethics and Consumer Protections in Crypto Market Structure Bill

A coalition of U.S. Senate Democrats released a joint statement on Wednesday indicating that the latest draft of the crypto market structure bill remains insufficient regarding ethical safeguards and other critical provisions.

Senators Angela Alsobrooks, Cory Booker, Catherine Cortez Masto, Rubén Gallego, John Hickenlooper, Mark Warner and Raphael Warnock — members of a key negotiating bloc likely required to advance the legislation — issued a joint statement to CoinDesk, reaffirming their commitment to collaborate with Republican partners on the Digital Asset Market Clarity Act while urging additional refinement of the bill, particularly in the areas of illicit finance oversight and consumer protection.

Alsobrooks and Gallego were the sole committee members to support the Clarity Act, whereas several of the signatories have voiced endorsement of the proposal in previous statements.

‘The Republican‑drafted version of the CLARITY Act, as presented, falls short,’ the statement noted. ‘Essential elements — including ethics rules for elected officials, consumer safeguards, illicit finance controls, conflicts‑of‑interest provisions, and market integrity measures — require strengthening.’

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