CLARITY Act Stalls in Senate Amid Corruption Concerns
US Senator Elizabeth Warren accused her Republican colleagues of 'turning a blind eye' to President Donald Trump's corruption in relation to the stalled CLARITY Act. The bill, aimed at regulating cryptocurrency, failed to clear a Senate procedural hurdle.
Warren argued that the current draft of the bill primarily benefits Trump, as it would allow him to continue profiting from his crypto ventures. She claimed that no one has more to gain personally from this bill than the President himself.
Trump's 2025 financial disclosure revealed that his companies generated over $1.4 billion from crypto ventures, including $520 million from World Liberty Financial token sales and over $635 million from Official Trump (CRYPTO: TRUMP) memecoin royalties.
Crypto industry leaders like Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong and Ripple CEO Brad Garlinghouse expressed optimism that the SEC and CFTC will advance rules to fill the legislative gap, despite the setback for the CLARITY Act.