According to Deep Tide TechFlow, on June 4, Democratic staffers in the U.S. House of Representatives accused the SEC of favoring Republicans in the technical analysis of the CLARITY Act cryptocurrency bill. The bill aims to create a regulatory framework for the U.S. cryptocurrency industry.
Democrats are concerned that the bill could impact the traditional securities market and create regulatory loopholes. Maxine Waters, a member of the House Financial Services Committee, plans to write to SEC Chairman Paul Atkins requesting a written analysis. The bill will be marked on June 10, and the SEC's stance may affect Democratic support.