Warren to attack Clarity Act before Tuesday Senate preliminary vote

  • Elizabeth Warren will criticize the Clarity Act in a Monday night speech.
  • $1.4 billion in potential crypto profits was cited by Warren.
  • The Senate is scheduled to hold a preliminary vote Tuesday afternoon.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., plans to criticize the cryptocurrency market structure bill known as the Clarity Act in a Monday night speech, one day before the Senate holds a key preliminary vote on the legislation Tuesday afternoon. Warren told CNBC exclusively that the bill’s latest ethics proposal, which has been blessed by President Donald Trump, is a "weak fig leaf that will do nothing to stop him from making his next $1.4 billion in crypto profits." Republicans leading the bill want some Democrats to support it. The legislation would establish rules for the cryptocurrency industry.

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