Senators Draft Stricter CLARITY Act Ethics Curbs Targeting Trump's Crypto Links
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Senators Tillis and Gallego finalized stricter CLARITY Act ethics language aimed at limiting senior officials' direct ties to crypto projects, explicitly targeting President Trump's crypto ventures. The provision could raise perceived regulatory and political risk across the sector, potentially impacting lobbying dynamics and the bill's path before the August recess. Near-term market sensitivity may increase around headlines on White House and Senate Democrat support.
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Sen. Thom Tillis and Sen. Ruben Gallego have finalized updated ethics language for the CLARITY Act, according to sources familiar with the matter. The proposal is expected to be sent to the White House soon.
The provision would restrict senior government officials from maintaining direct ties to cryptocurrency projects, a move that directly targets President Trump's crypto-related business ventures.
White House sign-off and support from Senate Democrats are still required before the measure can move forward. The Senate has seven days left before its August recess, and lobbyists are urging leaders to file a cloture motion this week to keep the bill on track.
Source: CoinDesk
