A secret 11th-hour CLARITY proposal to protect crypto coders was just ripped apart by both sides of Washington

Senate negotiations over the landmark CLARITY Act are producing fresh concessions, but little evidence that the parties are moving closer to a deal.Democrats are moving on regulatory appointments and ethics, while law-enforcement groups have proposed new language for one of the CLARITY Act’s most contentious provisions.The White House and crypto advocates, however, have rejected some of those overtures in unusually blunt terms, leaving a bipartisan ethics counteroffer as the next major test of whether negotiators can still bridge their differences.Democratic nominees narrow one CLARITY sticking pointSenate Minority Leader Chuck Schumer has sent the White House two potential candidates each for Democratic seats at the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), addressing a personnel dispute that had become increasingly entangled with CLARITY negotiations.Semafor White House reporter Eleanor Mueller reported the submissions, citing people familiar with the move. The identities of the prospective nominees remain unclear as officials seek to shield them from political attacks before the administration decides whether to proceed.“Nobody wan...