Clarity Act Latest Draft Bars Trump From Crypto Ventures—But Only Until 2029
The latest Senate draft of the Clarity Act adds a long-debated ethics rule that would bar public officials and employees, plus their spouses, from issuing or sponsoring digital assets while in office. It still allows crypto investing, does not cover officials’ children, and expires at noon on Jan. 20, 2029. Enforcement would rest with the Justice Department. The compromise may be the last major obstacle to passing the broad market-structure bill, but it is likely to face Democratic resistance because it does not fully address President Trump’s crypto ties, including his family’s World Liberty Financial involvement. The draft also keeps a safe harbor for non-custodial software developers, a provision strongly backed by industry but criticized by law enforcement and some religious leaders. Stablecoin yield restrictions remain unchanged. Majority Leader John Thune plans floor action soon, with early August seen as the last viable window before recess and election politics take over.
