Trump: CFTC working to bring HyperliquidX into US market

Democratic Senator Ruben Gallego warned that rushing the CLARITY Act to a Senate vote before lawmakers resolve disputes over ethics and stablecoin yield could set United States crypto market structure legislation back.Speaking at the SALT Wyoming Blockchain Symposium on Wednesday, Gallego said the crypto industry should encourage Senate Democrats and Republicans to continue negotiating instead of pushing for an immediate vote. He said lawmakers still had to address the bill’s Agriculture Committee portion, assemble the broader package and determine how to send it to the House. The warning complicates the Trump administration’s push for swift passage by suggesting that a procedural vote could arrive before negotiators have assembled the bipartisan coalition needed to reach the Senate’s 60-vote threshold. “Don’t go for a fast vote,” Gallego said. “A fast vote gets you a fast result, but I’m not sure it’s the result you want.” He added that Congress still had a lot of steps to complete and that “any premature movement is going to set it back further.”Gallego says White House has not answered ethics proposal Gallego said he and Republican Senator Thom Tillis submitted compromise ethics language to the White House before the congressional recess but had not received a point-by-point response. He said that sufficiently strong ethics restrictions were necessary to attract Democratic support and advance the bill. “We’ve been sending offers over and over again to the White House, and they’ve been coming back either blank, or they’ve come back even slightly further back, or we’ve heard nothing,” Gallego said. Cointelegraph reached out to the White House for comment but did not receive a response before publication. Related: CLARITY Act delay gives Asian financial hubs an opening: First Digital CEOThe remarks follow renewed pressure from the administration. On Wednesday, Trump urged Congress to pass a “fair version” of the CLARITY Act during a White House appearance with crypto executives. Senate leaders have delayed action until September. On Aug. 7, Senate Majority Leader John Thune confirmed to Cointelegraph that the chamber was “punting” the vote and said CLARITY would be queued up “first thing” after lawmakers returned from recess.White House crypto adviser Patrick Witt previously said the administration would negotiate with Democrats until the September vote but “can’t afford to wait forever.”Magazine: ‘Fabricated rumors’ about BitMart founder, Binance bStocks dominate: Asia ExpressCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.