Trump backs ethics overhaul in final CLARITY Act text

Key facts

• President Trump has agreed to new ethics provisions in the final CLARITY Act text.
• The CLARITY Act includes tough restrictions for elected officials and judges.
• The act reflects conflict of interest rules.
• Stricter ethics rules include divestment or blind trusts.
• Senator Lummis stated the CLARITY Act represents the "toughest ethics reform" the U.S. has had.
• Senator Lummis warned that crypto firms may leave the U.S. if Congress fails to act.

President Trump has agreed to new ethics provisions in the final text of the CLARITY Act, which is set for a Tuesday vote in the Senate. The legislation includes stringent conflict of interest rules for elected officials and judges, requiring divestment or blind trusts.

Senator Cynthia Lummis, a proponent of the act, stated that it represents the "toughest ethics reform" the U.S. has seen. She also warned that the U.S. crypto industry might relocate if Congress does not pass the CLARITY Act.