Warren Davidson demands removal of Section 305 from CLARITY Act before Senate vote
- —Section 305 allows transaction freezes of 30 days, extendable to 180 days
- —Davidson called the provision "effectively civil forfeiture" without the right to a court hearing
- —Moreno: Tuesday's vote is only the start of debate, not final passage
- —Ending debate requires 60 votes, while Republicans hold 53 seats
Why it matters: The dispute over Section 305 could delay passage of the crypto market structure law and affect rules for freezing stablecoins.
Source: The Crypto Times