Republican Senator Dave McCormick said on Friday on Fox Business that Democrats are delaying the vote on the Clarity Act, which aims to establish a regulatory framework for cryptocurrencies, because they do not want to give Republicans a win. The bill, stalled since the beginning of the year due to concerns from banking chiefs regarding stablecoin yields and ethics issues, prohibits officials and their families from issuing or promoting cryptocurrencies in its latest version. Senator Elizabeth Warren and a group of Democrats have criticized the bill, accusing it of allowing President Trump to profit from his financial interests in meme coins and World Liberty Financial, which the White House has denied. Major institutions such as Fidelity and Goldman Sachs, along with industry lobby groups, support the current version of the bill.
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