Gallego Optimistic CLARITY Act Can Pass Despite Slow Ethics Progress

US crypto market structure bill CLARITY Act is still alive despite slow progress on ethics provisions, according to Sen. Ruben Gallego.

Gallego, a key Democratic negotiator, stated that the measure can still pass but needs an agreement with the White House on ethics rules tied to President Donald Trump's crypto businesses.

The negotiations over ethics language have stalled due to repeated proposals being met with weak responses or no response at all from the White House.

Gallego and Republican Sen. Thom Tillis drafted a new compromise proposal that would give state attorneys general authority to enforce the provision, bar public officials and their spouses from issuing or sponsoring digital assets, and include a sunset clause expiring in January 2029.