A dispute over an ethics provision blocking President Trump from profiting from crypto businesses has stalled the CLARITY Act, leaving the bill's path to a Senate vote uncertain.
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A dispute over an ethics provision is blocking the CLARITY Act, a major piece of crypto legislation, from reaching a full Senate vote. The provision would prevent President Trump and other executive officials from profiting from crypto businesses they oversee, according to a report from The Block.
Democrats are insisting on the clause, pointing to Trump's reported $1.4 billion in crypto-related income as a clear conflict of interest. The White House and Senate Republicans oppose the measure, calling it a poison pill designed to kill the bill.
The standoff leaves the legislation in limbo. Senate Majority Leader Chuck Schumer has not scheduled a vote, and no negotiations on the provision have been publicly reported since the disagreement surfaced.
The CLARITY Act would establish a federal framework for digital asset classification and exchange registration. Without it, the industry remains under a patchwork of state laws and SEC enforcement actions.
Trump's financial ties to the crypto sector have been a recurring flashpoint. He has launched his own NFT collections and his family has promoted decentralized finance projects, creating what ethics watchdogs have called an unprecedented conflict between presidential authority and personal financial interest.
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