Scoop: Progressives scorch Gillibrand over crypto
Progressive groups are opening a vicious new front in the fight over crypto legislation, targeting Sen Kirsten Gillibrand as she tries to broker a compromise on the CLARITY Act, which has unresolved issues on its ethics provisions. Why it matters: The blistering — and deeply personal — attack from Indivisible, Demand Progress and the Revolving Door Project complicates already delicate negotiations.It's also a warning shot to Democrats: Progressive groups are prepared to make support for the bill politically painful, even if it means another bruising intraparty fight over one of the crypto industry's top legislative priorities."Senator Kirsten Gillibrand, chair of the Democratic Senatorial Campaign Committee (DSCC), is a prime example of a Democratic leader whose conduct undermines efforts to hold the Trump administration accountable for their rampant corruption," the groups wrote in a letter sent to every Democratic Senate office Tuesday evening."Fair or not, criticisms of the Trump administration's overwhelming corruption fall flat when voters perceive the critics to be engaged in substantively similar behavior."The groups argue that Gillibrand's son's involvement in the crypto industry leaves Democrats vulnerable to the very charge they are trying to level against President Trump.Trump's crypto ventures have generated an estimated $600 million windfall, testing long-standing norms around presidents profiting from businesses affected by government decisions.The other side: Gillibrand has called for Congress to prevent all elected officials, and their spouses, from issuing or sponsoring their own digital assets."This is a commonsense requirement that should get broad bipartisan support — public officials and their spouses should not be issuing memecoins," she said in a June statement.State of play: Finding 60 votes for the CLARITY Act this summer is a high-wire act, but passing the bill remains a top priority for Senate Republicans, the White House and the crypto industry.Sens.
Reported by 1 outlet — Axios. See all sources ↓
Progressive groups are opening a vicious new front in the fight over crypto legislation, targeting Sen Kirsten Gillibrand as she tries to broker a compromise on the CLARITY Act, which has unresolved issues on its ethics provisions. Why it matters: The blistering — and deeply personal — attack from Indivisible, Demand Progress and the Revolving Door Project complicates already delicate negotiations.It's also a warning shot to Democrats: Progressive groups are prepared to make support for the bill politically painful, even if it means another bruising intraparty fight over one of the crypto industry's top legislative priorities."Senator Kirsten Gillibrand, chair of the Democratic Senatorial Campaign Committee (DSCC), is a prime example of a Democratic leader whose conduct undermines efforts to hold the Trump administration accountable for their rampant corruption," the groups wrote in a letter sent to every Democratic Senate office Tuesday evening."Fair or not, criticisms of the Trump administration's overwhelming corruption fall flat when voters perceive the critics to be engaged in substantively similar behavior."The groups argue that Gillibrand's son's involvement in the crypto industry leaves Democrats vulnerable to the very charge they are trying to level against President Trump.Trump's crypto ventures have generated an estimated $600 million windfall, testing long-standing norms around presidents profiting from businesses affected by government decisions.The other side: Gillibrand has called for Congress to prevent all elected officials, and their spouses, from issuing or sponsoring their own digital assets."This is a commonsense requirement that should get broad bipartisan support — public officials and their spouses should not be issuing memecoins," she said in a June statement.State of play: Finding 60 votes for the CLARITY Act this summer is a high-wire act, but passing the bill remains a top priority for Senate Republicans, the White House and the crypto industry.Sens. Bernie Moreno (R-Ohio) and Cynthia Lummis (R-Wyo.) are working with the White House on compromise language for the ethics provisions. They appear to be making progress, though the details of the compromise haven't been released.In addition to the talks with the White House, bipartisan talks are underway, with Sen.
Read the full report at Axios ↗
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- What's the story?
- Progressive groups are opening a vicious new front in the fight over crypto legislation, targeting Sen Kirsten Gillibrand as she tries to broker a compromise on the CLARITY Act, which has unresolved issues on its ethics provisions. Why it matters: The blistering — and deeply personal — attack from Indivisible, Demand Progress and the Revolving Door Project complicates already delicate negotiations.It's also a warning shot to Democrats: Progressive groups are prepared to make support for the bill politically painful, even if it means another bruising intraparty fight over one of the crypto industry's top legislative priorities."Senator Kirsten Gillibrand, chair of the Democratic Senatorial Campaign Committee (DSCC), is a prime example of a Democratic leader whose conduct undermines efforts to hold the Trump administration accountable for their rampant corruption," the groups wrote in a letter sent to every Democratic Senate office Tuesday evening."Fair or not, criticisms of the Trump administration's overwhelming corruption fall flat when voters perceive the critics to be engaged in substantively similar behavior."The groups argue that Gillibrand's son's involvement in the crypto industry leaves Democrats vulnerable to the very charge they are trying to level against President Trump.Trump's crypto ventures have generated an estimated $600 million windfall, testing long-standing norms around presidents profiting from businesses affected by government decisions.The other side: Gillibrand has called for Congress to prevent all elected officials, and their spouses, from issuing or sponsoring their own digital assets."This is a commonsense requirement that should get broad bipartisan support — public officials and their spouses should not be issuing memecoins," she said in a June statement.State of play: Finding 60 votes for the CLARITY Act this summer is a high-wire act, but passing the bill remains a top priority for Senate Republicans, the White House and the crypto industry.Sens.
- How widely is it covered?
- 1 outlet, average source rating 7.0/10.
- When was it last updated?
- 15m ago.
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Scoop: Progressives scorch Gillibrand over crypto
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