Democrats and Republicans are haggling about the Clarity Act, a major bill pushed by the crypto industry, as it moves closer to a Senate vote.
After a series of political victories under President Trump, firms are lobbying Congress for a sweeping framework they helped shape.
Senior Republican officials called Commerce Secretary Howard Lutnick on Tuesday after a new crypto super PAC seeded by his former firm, Cantor Fitzgerald, indicated in a FEC filing that it planned to spend $1.75 million backing Ken Paxton in Texas, Axios has learned. Why it matters: GOP leaders were alarmed that the new group, Fellowship PAC, was wading into a contentious primary runoff in which President Trump has famously dithered about taking a side between Paxton and Sen. John Cornyn. - While Lutnick's sons now run Cantor Fitzgerald, from which Lutnick divested last year, senior Republican officials appealed to the Commerce secretary to help reverse what they viewed as a silly political blunder, according to three people familiar…