12 Out Of 18 Democrats Will Back The CLARITY Act: Tim Scott

“I believe that we’ll have at least 12 and 18 Democrats at least open to voting for market structure,” Scott said.

“The forces against it, let me just say clearly, like Senator Elizabeth Warren, standing in the way of Democrats wanting to participate, it is a real force to overcome,” he added.

Key Democrats Push Back On Crypto Legislation

During a recent fireside chat with Subcommittee on Digital Assets Chair Cynthia Lummis (R-Wyo.) and Executive Director of the President’s Council of Advisers on Digital Assets Bo Hines, Scott announced that he was “making sure” the market structure legislation would be completed by September 30.

Meanwhile, the GENIUS Act was officially ratified last month at a White House signing ceremony, where U.S. President Donald Trump praised the landmark stablecoin bill.

“Let me say, the entire crypto community, for years you were mocked and dismissed and counted out,” the president said. “You were counted out as little as a year and a half ago—but this signing is a massive validation.”

Key players in the Democratic Party, however, have pushed back against certain pieces of crypto legislation.

In July, Representative Maxine Waters (D-CA) launched “Anti-Crypto Corruption Week,” where she called both the CLARITY and GENIUS Act “especially dangerous.”

“The CLARITY and GENIUS bills wrap themselves in the flag of innovation, but all they really do is replicate the same mess that led to past financial crises: They call for few regulations, minimal enforcement, weak consumer protections, and more industry consolidation,” Waters said.