Here's a nice thread summarizing the committee's debate about the Clarity Act:

HAPPENING NOW: The @SenateAg Committee is convening to mark up its portion of the CLARITY Act, with Chairman @JohnBoozman kicking off proceedings. He says the markup is the culmination of months of bipartisan work and that while conversations were cordial and substantive, “fundamental policy disagreements” remain, but “now it’s time to move this process forward.”

Ranking Member @SenAmyKlobuchar explains why Democrats aren't in full support of the bill yet. "The progress that has been made here is good, but I think we believe that we're not quite done yet." Klobuchar says sticking points are ethics regarding public officials and protecting the independence of the CFTC and strengthening consumer protections.

Senator @CoryBooker, the leading Dem negotiator on the bill, called putting together the November bipartisan text with @JohnBoozman "one of his better experiences in the Senate."

Booker blames Republicans for 'walking away from the bipartisan process that produced the draft' produced in November when the Senate came back from Christmas break.

"To be clear, the product book before us today is not the bipartisan draft that we're working on. It was negotiated with two parties at the table, but it isn't in accord with the principles we laid out in November in a bipartisan way."

Booker said the White House has made the process of negotiating a crypto bill “infinitely harder,” adding that some Republican colleagues privately agree with him. He accused Trump of grifting off crypto, comparing it to launching a hypothetical “Cory coin” as a sitting senator.

Senator @SenAdamSchiff echoes Booker and Klobuchar on wanting to add ethics provisions into the bill, but says "it shouldn't be ethics language that singles anyone out or includes anyone" but rather cover all federal officials from Congress up to the President.

@SenatorSlotkin said “I know the other side of the aisle would be having a conniption if this had been Joe Biden or Barack Obama,” referring to the amount of money President Trump and his family have made off crypto while in office.

First amendment on the docket: @SenatorBennet: amendment number two, which would bar the President, vice president, all federal elected officials, and certain family members from profiting off crypto while in office and require any covered assets to be placed in a blind trust.

Amendment: Not agreed to. ❌

Second amendment: @SenatorDurbin’s amendment to prevent a bailout of crypto intermediaries in the event of bankruptcy.

Durbin also says: "I'm a crypto skeptic and unless there is meaningful, enforceable regulation, I wouldn't touch it with a 10 foot pole."

Amendment: Not agreed to. ❌

Third amendment: @SenatorDurbin amendment to protect victims of crypto ATM scams by requiring CFTC registration, kiosk location disclosure, mandatory fraud warnings, and daily transaction limits.

Boozman says this language is already included in Senate Banking's portion of the bill so it cannot be included in Senate Ag's.

Amendment: Not agreed to. ❌

Fourth and fifth amendments were offered from @SenTuberville aimed at keeping U.S. digital markets free from foreign influence and clarifying that dealer regulatory requirements apply only to specific activities requiring dealer registration. @SenatorLujan added that the measures would help prevent cartels and terrorists from exploiting loopholes to influence markets.

However, Tuberville withdrew the amendments and there were no votes on them.

Senator @JerryMoran also withdrew his amendment.

The @SenateAg has just passed its portion of the Clarity Act out of committee on a party line vote with no Democrats voting in favor of it.