This is the confession of the Michigan senator who voted against the Clarity Act early this morning, by the way, she is a Democrat.

She opposes this version of the CLARITY Act for three main reasons:

1. The restrictions on conflicts of interest for public officials are too weak. She believes the bill does not adequately constrain the president, family members, and cabinet members from profiting from cryptocurrency business. She emphasized that such restrictions should also apply to future Democratic officials.

2. Insufficient anti-money laundering and national security measures. She believes there is a need to strengthen tools to block illegal funds to prevent terrorist organizations, as well as countries like North Korea and Iran from using cryptocurrency channels for financing.

3. Regulatory agencies lack enforcement capabilities. Agencies, including the CFTC, currently have insufficient regulatory capacity and staffing to effectively implement the bill.

However, she also stated that she supports the U.S. maintaining its lead in cryptocurrency innovation, and recognizes some bipartisan provisions in the bill, expressing a willingness to continue participating in modifications and advancements.

This indicates that at least some Democratic lawmakers are willing to support the development of cryptocurrency in the U.S., and from my review of several spokespersons, the most important statements are in the first point.

@Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFD, all-in-one trading for prediction markets

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