Warren demands ethics language in the Clarity Act to block Trump family crypto profits after a $1.4B disclosure. The bill needs seven Democrats to overcome a filibuster before August.
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Senator Elizabeth Warren wants ethics language added to the Senate's crypto market structure bill that would block President Donald Trump and his family from profiting off digital assets. The demand comes days after a government filing showed the family cleared more than $1.4 billion from crypto in 2025.
The financial disclosure, released July 1 by the U.S. Office of Government Ethics, put a hard number on Trump's crypto income for last year: roughly $635 million in royalties tied to his memecoin business and more than $500 million from token sales at World Liberty Financial, the venture he co-founded with his sons.
Warren, the ranking member of the Senate Banking Committee, wants those conflicts addressed before the Clarity Act reaches the Senate floor. The bill "must prevent the president, vice president, senior administration officials, members of Congress, and their families from profiting off the crypto industry," Warren said in a statement.
The Clarity Act would move regulatory authority over digital assets from the SEC to the CFTC and set rules for DeFi and stablecoins. It cleared the Banking Committee in a 15-9 vote. The conflict-of-interest question has trailed it into final negotiations. The ethics language sits partly outside the committee's jurisdiction.
Even Democrats who backed the bill are keeping up the pressure. Senator Ruben Gallego of Arizona, one of two Democrats who voted to advance the bill in committee, wrote on X: "Donald Trump is making billions off the presidency while raising costs for the working people he promised to help."
Republicans want the measure finished. Banking Chairman Tim Scott is pushing for a floor vote this month. The bill would need at least seven Democrats to overcome a filibuster. "I would hope the Senate can complete their work before the August recess," Representative French Hill of Arkansas told reporters.
The latest disclosure, which also detailed Trump family earnings across other tokens and collectibles, hands Warren fresh ammunition just as the bill heads for a floor vote. Scott wants a vote before the August recess.
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