Trump agrees to stricter ethics rules to save Clarity Act crypto bill: AP
President Donald Trump has agreed to accept stricter ethics provisions in order to preserve the passage of the Clarity Act, a landmark piece of cryptocurrency legislation, according to a report from the Associated Press. The concession marks a significant development in ongoing negotiations over the bill, which aims to establish a comprehensive regulatory framework for digital assets in the United States.
The Clarity Act has been one of the most closely watched pieces of crypto legislation in recent congressional sessions, designed to resolve longstanding jurisdictional disputes between the Securities and Exchange Commission and the Commodity Futures Trading Commission over the classification and oversight of digital assets. Opposition to the bill had intensified following concerns from lawmakers about potential conflicts of interest related to Trump's personal involvement in the crypto industry, including his family's various digital asset ventures.
The agreement to incorporate tighter ethics guardrails is seen as a necessary compromise to secure enough bipartisan support for the bill to advance through Congress. Industry stakeholders have broadly supported the Clarity Act, arguing that regulatory certainty is essential for institutional adoption and for keeping crypto businesses operating within the United States rather than moving offshore to more permissive jurisdictions.
Observers will be watching closely to see whether the revised ethics language satisfies skeptical lawmakers and whether the bill can maintain sufficient momentum to reach a full floor vote in both chambers before the end of the current congressional session.
Source: CoinDesk
