WASHINGTON, D.C.—Democracy Defenders Action and Transparency International U.S. today condemned the Digital Asset Market Clarity Act and called on the Senate to provide real ethics reform. While the Senate’s updated bill language purported to establish ethics requirements for federal officials overseeing the digital asset marketplace, the organizations argue the law fails to establish meaningful reform aimed at protecting the integrity of the digital asset marketplace, American consumers, and the nation’s economy. 

According to legal ethics experts at Democracy Defenders Action and Transparency International U.S., the CLARITY Act text released last week was narrowly drawn, grandfathered in existing cryptocurrency investments…