McHenry Predicts Favorable September 15 Vote for Clarity Act

U.S. Representative Patrick McHenry predicts that September 15 will be a favorable voting day for the Clarity Act, a piece of cryptocurrency legislation he describes as the most significant technology law since the Telecoms Act. The proposed law would establish a regulatory authority to oversee digital assets and introduce ethics restrictions preventing government officials from owning such assets.

McHenry suggests that current complaints among senators indicate a likely consensus is forming. However, he identifies the ethics provisions as a primary obstacle to securing Democratic support. He warns that if the legislation fails, it will be because Senate Majority Leader Chuck Schumer prioritized politics over sound policy.

McHenry further asserts that the cryptocurrency industry intends to use the upcoming midterm elections to target senators who obstruct policy progress, labeling such individuals as bad actors.