Crypto▼ Bearish
Trump's Compromise Fails to Unlock CLARITY Act Vote
Trump's $1.4B from WLF and memecoin stalls CLARITY Act. No Democrat backs the revised ethics clause. The August 8 recess deadline approaches.
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The CLARITY Act remains stalled in the Senate after a compromise on an ethics clause failed to win Democratic support. President Donald Trump endorsed the revised provision on July 20, four days after a summit involving Senator Bernie Moreno, Senator Cynthia Lummis, and White House crypto advisor Patrick Witt. The White House called it the "most comprehensive and broadest ethical provision in history." Senator Moreno said it was the strictest text ever integrated into legislation passed by Congress.
The ethics clause requires disclosure of crypto holdings by political officials. Trump's personal financial disclosures, made public on July 1, showed he earned roughly $1.4 billion from crypto-related income in 2025. Most of that came from World Liberty Financial and the memecoin bearing his name. Democrats said the size of the income makes a voluntary ethics pledge insufficient. They want a binding rule with enforcement.
Republicans hold 53 Senate seats. They need 60 votes to avoid a procedural filibuster, meaning at least seven Democrats must support the bill. No Democrat has publicly backed the amended text. Majority Leader John Thune has a narrow window before the August 8 summer recess.