NEW: Banking Minority Staff Analysis Identifies Five Major Loopholes in Digital Asset Market Clarity Act

NEW: Banking Minority Staff Analysis Identifies Five Major Loopholes in Digital Asset Market Clarity Act

Analysis reveals how current text of crypto market structure legislation risks Americans' pensions and our financial system, jeopardizes national security, and will turbocharge Trump's crypto corruption.

Read analysis here (PDF)

Washington, D.C. - Today, the Minority Staff of the Senate Banking, Housing, and Urban Affairs Committee released an analysis of the Digital Asset Market Clarity Act. The analysis identifies the following loopholes in the current text of the bill:

1. Fails to close loopholes to securities laws that could risk Americans' pensions.
2. Fails to close loopholes that enable illicit use of crypto by cartels, terrorists, and criminals, and jeopardize our national security.
3. Fails to protect our economy and taxpayers from bailouts and crashes, and reduces small business' access to credit.
4. Fails to eliminate the Trump family's crypto corruption-despite President Trump amassing over $1.4 billion in income from crypto.
5. Fails to preserve consumer and investor protections that exist for other financial products and services.

The gaps identified in the analysis mirror the concerns raised by labor unions, law enforcement, ethics experts, and tribal nations. Read more HERE.

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