The CLARITY Act remained at the center of US digital asset policy discussions on Thursday, with a Democratic senator criticizing Republican ethics provisions and a major Wall Street chief executive offering support, while a pioneering crypto derivatives exchange announced plans to cease operations after 11 years.

Senator Ruben Gallego said he would collaborate with Republican colleagues, including Senator Thom Tillis, on alternative language after Senate Republicans released draft text for the Digital Asset Market Clarity Act this week. The draft included ethics rules that would prohibit all US federal officials from issuing or sponsoring any digital asset. Gallego characterized the ethics section as inadequate and not reflective of prior bipartisan work, stating that his side would submit revised wording and remain engaged in the process.

Goldman Sachs chief executive David Solomon publicly supported the legislation, describing it as imperfect yet capable of establishing a more consistent regulatory framework that could aid the maturation of digital asset markets. His position diverged from that of other banking leaders who have raised concerns over provisions allowing crypto firms to offer yields on stablecoins outside traditional banking rules. The bill is expected to require bipartisan backing for passage. Some Democrats continue to oppose it on grounds that its ethics measures remain insufficient to address potential conflicts.

Separately, BitMEX, an early developer of cryptocurrency derivatives trading, disclosed that its owner, HDR Global Trading Limited, had decided to close the platform following a strategic review. Exchange services will end on September 23 at 04:00 UTC. The firm advised users to close positions and withdraw funds ahead of the deadline and stated that assets would remain secure and under user control during the transition. No additional details on the decision were provided.

The closure occurs as decentralized derivatives platforms have increased their share of activity relative to centralized venues. Centralized exchange perpetual futures volume declined 10 percent to $12.7 trillion in the second quarter, while decentralized platforms continued to expand.