Democrats and law enforcement agencies voice support for amendment to the U.S. Clarity Act…expected to be handled in August

A new amendment to the U.S. Clarity Act has won backing from Democratic Sen. Catherine Cortez Masto and major prosecutors' associations.

The revision outlines liability rules for developers and companies and adds ethics limits barring public officials and their families from issuing or promoting crypto.

The amendment has been sent to the White House, though some Democratic disagreements and final wording changes remain.

Lawmakers and the industry still expect action before Congress breaks for the August recess.