Bitcoin topped $66,000 after the White House reached an ethics compromise on the CLARITY Act. The Senate faces a tight August 7 deadline before recess, with 60 votes needed for passage.
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Bitcoin pushed above $66,000 Tuesday, its highest level in nearly two months, after the White House reached an ethics compromise tied to the Digital Asset Market Clarity Act – the CLARITY Act.
White House officials negotiated with Republican Senators Cynthia Lummis and Bernie Moreno to finalize ethics language in the bill. A White House representative told CoinDesk the administration backed "the most comprehensive and wide-ranging ethics provision in history."
The House approved the CLARITY Act in July 2025. The legislation has been stuck in the Senate over disputes around ethics rules, stablecoin regulation, and protections for software developers.
The core fight is over enforcement. Democratic senators want state-level prosecutors to enforce crypto ownership bans on government personnel. The White House and Republican lawmakers want that power with the federal attorney general. Trump has nominated Todd Blanche, his former personal attorney, for that post.
The ethics framework would cover the president, vice president, and every member of Congress. That creates complications around Trump's crypto holdings, including his ties to World Liberty Financial and his memecoin project.
Senators Elizabeth Warren, Chris Murphy, Jeff Merkley, and Chris Van Hollen said a CLARITY bill without strong ethics safeguards would be "worthless." Democratic senators had not seen the exact wording of the negotiated ethics provisions as of Tuesday afternoon.
Coinbase vice chair Ryan VanGrack said Democrats had already secured consumer protections in the Senate's version of the bill.
August 7 is the last legislative day before the Senate's summer recess. The measure could get floor consideration as early as next week.
If the Senate passes it, the bill would need another House vote, likely in September. House Republicans have recently had internal disagreements that stalled other legislation.
Some Democratic lawmakers have floated adding prediction-market regulations to the bill. That could kill the whole effort.
Market analyst Michaël van de Poppe posted on social media that Bitcoin's move was "entirely dedicated towards the potential approval of the Clarity Act."
The Senate needs 60 votes for passage. That threshold looks tough given Democratic opposition.
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