Republican senators are warning that the Senate’s bipartisan cryptocurrency regulatory bill is likely to fail next week when the chamber returns.
There’s been little movement on the key Democratic demand, an ethics component governing the president and his family, according to two Democratic aides.
“Does not look good right now,” said Sen. Mike Rounds, R-S.D.
Sen. Thom Tillis, R-N.C., added that “if there’s no interest in the White House in trying to bridge the gap on the ethics language, it is going to fail.”
A White House spokesperson said President Donald Trump is “unequivocal: Congress must pass the CLARITY Act so we can stay ahead of foreign competitors and lead the world in innovation.”
“The Trump Administration has worked tirelessly with Congress on the CLARITY Act and has already agreed to the most comprehensive and wide-ranging ethics provision in history,” the spokesperson said.
A failed vote could motivate the crypto industry to spend money in key Senate and House races, but one incumbent senator said it’s far from a top voting issue.
“There’s nothing I can do with the crypto bill. Haven’t heard a peep about it. Nobody back home is asking about it,” said Sen. Roger Marshall, R-Kan.