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Trump Crypto Profits Fuel Ethics Fight Over CLARITY Act
Senator Mark Warner's push for ethics restrictions on officials' crypto holdings threatens to delay the CLARITY Act, which has already cleared the House and the Senate Banking Committee.
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The U.S. Senate is expected to vote on the CLARITY Act in the coming weeks. The bill would set federal rules for digital assets. It already passed the House and cleared the Senate Banking Committee.
A Democratic proposal to add ethics restrictions for government officials trading or holding crypto has emerged as the main obstacle. Senator Mark Warner voiced strong opposition to officials profiting from the crypto sector. Reports showed former President Donald Trump’s family office had amassed substantial crypto income. The amendment would bar certain officials from involvement in crypto businesses, a measure that could reshape the bill’s final form.