CLARITY Act Bipartisan Senate Negotiations Fail to Reach Deal Ahead of Thursday Review

According to crypto journalist Eleanor Terrett, bipartisan Senate negotiations aimed at resolving outstanding issues on the CLARITY Act ended without agreement Wednesday night. Republican lead negotiator Cynthia Lummis stated that 99% of the bill's content has been agreed upon, with hopes to address the remaining 1% after committee passage. Democratic senators, including Adam Schiff and Ruben Gallego, demanded compromise on ethics and conflicts of interest issues before Thursday's review as a condition of support. Disagreements over modifications to the Blockchain Regulatory Certainty Act (BRCA) provisions, which protect non-custodial software developers from money transmission law prosecution, ultimately blocked the agreement.
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