Here’s why the CLARITY Act’s ethics deal may be so hard to reach

Both parties say they want US crypto market structure legislation, but a dispute over ethics rules and who enforces them is becoming the bill’s biggest obstacle.

The long-awaited US Digital Asset Market Clarity Act (CLARITY) has hit another snag.

This time, it’s not software developers or the turf war between federal regulators at stake, but the thornier question of ethics — ironic, given many politicians’ demonstrable disdain for them.

After months of negotiations and what Coinbase’s chief executive Brian Armstrong called “thousands of hours of work on both sides,” disagreement over a code of conduct could make or break CLARITY once and for all.

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