CLARITY Act Nears Final Vote with Ethics Provisions and Industry Pressure Mounting

The CLARITY Act has reached a critical stage in its passage through the Senate. With the August recess approaching, lawmakers and industry groups are racing to finalize the bill.

One of the key changes is the addition of stronger ethics requirements for top government officials, including President Trump's digital asset holdings. Senator Cynthia Lummis has defended the updated bill, stating that it requires Trump to either divest his crypto holdings or place them in a blind trust.

However, some Democratic lawmakers have expressed concerns about the ethics provisions, arguing that they do not go far enough in eliminating conflicts of interest. Grayscale and Strategy are among the companies publicly urging Senate leadership to schedule a vote before the recess begins.