Senator Thom Tillis stated that the ethics agreement for the CLARITY Act is not yet finalized, despite recent progress and optimism from Senate Majority Leader John Thune. The proposed legislation aims to regulate digital assets and limit elected officials' involvement.
The CLARITY Act's progress is crucial for the future regulation of digital assets in the U.S., impacting consumer protection and the involvement of public officials in the crypto space. Disagreements over ethics provisions could delay or alter the bill's final form.
Senate Majority Leader John Thune expressed optimism regarding a bipartisan agreement on the CLARITY Act, a proposed cryptocurrency regulation bill. This optimism follows reported progress on an ethics provision designed to restrict elected officials' engagement with digital assets. However, Senator Thom Tillis stated that the ethics agreement, negotiated by the White House and Senators Lummis and Moreno, is "not quite there" and requires further work, citing concerns about exceptions in the proposed text. The full text of the legislation has not yet been released publicly or to most Republican and Democratic senators. Despite this hurdle, President Donald Trump has reportedly agreed to the ethics provisions, and Treasury Secretary Bessent has voiced confidence in the bill's passage. Senator Kevin Cramer confirmed an agreement on ethics language, granting the Justice Department enforcement authority. Data from Polymarket suggests a 50% probability of President Trump signing the bill into law this year.
Pick the topics you care about. Get only what matters, on your cadence.