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Trump Agrees to Ethics Language in CLARITY Act, Clearing Senate Hurdle
Trump agreed to add ethics language to the CLARITY Act, removing a Democratic objection. The bill now needs 60 Senate votes before the August recess. Markets showed little immediate reaction.
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President Trump agreed to add ethics language to the CLARITY Act, removing the main obstacle that had stalled the bill in the Senate, according to two people familiar with the talks.
The concession meets conditions set by key Democratic senators and opens a path to a vote before the August recess, one of the people said. The CLARITY Act, which would give the CFTC primary authority over digital-asset spot markets, passed the House in May and cleared the Senate Banking Committee on a party-line vote. The ethics provision – requiring public disclosure of financial holdings by the president and certain executive-branch officials – had been the sticking point for Democrats who said the original bill lacked safeguards.