CLARITY Act Draft Requires President to Divest from Cryptocurrency Holdings

A draft of the CLARITY Act has been sent to the White House and includes a provision requiring the president to divest from any cryptocurrency-related investments or business interests.

The bill aims to strengthen ethical standards for federal officials, and this provision reflects growing concerns about potential conflicts of interest as digital assets become more prevalent in financial markets.

The CLARITY Act is a proposed ethics reform bill that includes the crypto divestment provision as part of a broader ethics package. The White House will review the draft before it can be introduced in Congress, where it will face an uncertain path to passage.