Actor and outspoken cryptocurrency critic Ben McKenzie has urged US lawmakers to vote against the CLARITY Act, arguing that the legislation could benefit President Donald Trump’s growing involvement in the digital asset industry.
McKenzie made the appeal during an anti corruption forum on Capitol Hill on Monday, where he appeared alongside Senate Democrats, including Richard Blumenthal and Chris Van Hollen, to voice opposition to the proposed legislation.
Critics Say the Bill Leaves Ethical Concerns Unresolved
Speaking at the event, McKenzie argued that lawmakers cannot claim to oppose what he described as Trump’s crypto related conflicts of interest while simultaneously supporting the CLARITY Act.
He warned that the legislation, if passed in its current form, would fail to prevent potential conflicts and encouraged Democratic lawmakers to vote against it, noting that only a small number of votes could determine the bill’s outcome.
The criticism comes as Democrats continue pressing for stronger ethics provisions, enhanced consumer protections, and additional national security safeguards.
Although Republicans amended the legislation to prohibit the president and other senior public officials from issuing or sponsoring cryptocurrencies, Senator Richard Blumenthal argued that the revised language still contains loopholes that could allow Trump to continue benefiting from his cryptocurrency interests.
Blumenthal claimed that Trump earned billions of dollars last year and said a significant portion of that income came from cryptocurrency related ventures that, in his view, exploit weaknesses in existing regulations.
He also argued that the CLARITY Act does not require Trump to divest his crypto holdings and noted that the bill’s ethics provisions would expire in 2029. According to Blumenthal, relying on the Department of Justice to enforce those rules would not provide sufficient oversight.
Democratic lawmakers said they intend to use upcoming negotiations to push for further amendments before the legislation reaches the Senate floor, where it will require at least 60 votes to advance.
New York Attorney General Raises Oversight Concerns
New York Attorney General Letitia James also expressed concerns about the proposed legislation, warning that it could weaken states’ ability to pursue cryptocurrency fraud cases.
James argued that limiting state level enforcement powers could make it more difficult to hold digital asset companies accountable at a time when crypto related scams continue to cost Americans billions of dollars each year.
She called on Congress to strengthen investor protections rather than reduce regulatory authority, adding that robust oversight is essential for maintaining confidence in financial markets and protecting both the economy and national security.
Senate Consideration Delayed
The future of the CLARITY Act remains uncertain.
Senate Majority Leader John Thune has postponed consideration of the bill while the Senate prioritises confirming government nominees and debating legislation related to sanctions on Russia.
As a result, the crypto legislation is no longer expected to be considered before the summer recess, making September the earliest likely opportunity for lawmakers to resume debate.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
