Elizabeth Warren to Criticize Clarity Act Ahead of Senate Vote

Elizabeth Warren, Democratic chief of the U.S. Senate Banking Committee, is set to deliver a speech criticizing the Trump administration's supported virtual asset market structure bill, known as the Clarity Act. CNBC reported that Warren will voice opposition to the bill ahead of its procedural vote in the Senate.

The U.S. Senate plans to hold a procedural vote on the Clarity Act on Thursday, with voting scheduled for 3:15 a.m. KST on Friday. The bill requires at least 60 votes to advance through committee review. Warren criticized recent amendments including ethical provisions, stating they represent 'a weak barrier that cannot prevent President Trump from making the next $1.4 billion in virtual asset revenue.'

The Republican-proposed amendment includes a provision banning digital asset issuance by the president and senior government officials, along with granting authority to state attorneys general to enforce such restrictions.