18 State AGs Urge Senators to Reject CLARITY Act — SkimNews
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- 18 state attorneys general, led by New York AG Letitia James, urged senators to reject the CLARITY Act ahead of Tuesday's procedural vote, arguing the bill would weaken state enforcement against crypto fraud.
- The CLARITY Act cloture vote, requiring 60 votes, is scheduled for Tuesday at 2:15pm ET to determine whether the legislation advances to Senate debate.
- Senate Republicans released a 635-page 'final' revised CLARITY Act proposal on Sunday containing 126 substantive changes Democrats requested, framed as a last-ditch bid to win bipartisan support.
- President Trump agreed to new CLARITY Act ethics rules — accepting about 80% of a bipartisan Tillis-Gallego proposal — that would require officials with significant crypto holdings to divest or place them in a blind trust.
- The EU's Cyber Resilience Act, effective Friday, requires crypto hardware and software wallet providers to report severe actively exploited vulnerabilities within 24 hours of awareness, followed by full notification within 72 hours.
- Under the EU rules, wallet providers must submit a final report within 14 days after corrective measures are available, or within one month for severe incidents, per the European Commission.
Why it matters: The CLARITY Act would create the first federal market structure for US digital assets, splitting oversight between the SEC and CFTC — but with state AGs and Democrats opposed, the 60-vote cloture threshold on Tuesday is its make-or-break moment. EU wallet providers now face hard cybersecurity deadlines that could reshape compliance practices industry-wide.
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