Trump backs crypto ethics limits, putting CLARITY Act decision in Democrats’ hands
Trump reportedly accepted proposed ethics restrictions for the CLARITY Act, removing a major obstacle in crypto market-structure talks and shifting the key decision to Senate Democrats. The bill would expand CFTC oversight of digital commodities while preserving SEC authority over securities and add registration and customer-protection rules for crypto intermediaries. Democrats say that is not enough yet. They want stronger limits on crypto profits for senior officials, including presidents, vice presidents, and lawmakers, especially given Trump’s family’s large crypto interests. Several other issues also remain, including decentralized finance and illicit-finance rules. Even with an ethics deal, supporters still need enough Democratic votes to beat a filibuster and must reconcile House and Senate versions before the August recess. Market odds improved after the report, but passage remains uncertain.
