Senate Blocks Clarity Act Amid Ethics Disputes Over Trump's Crypto Holdings
White House crypto adviser Patrick Witt defended President Donald Trump's handling of ethics rules tied to the Clarity Act after the legislation failed to advance in the Senate.
The bill, aimed at regulating cryptocurrencies, was voted down 49-50 on September 15. According to Witt, Trump agreed to significant restrictions on his crypto interests during negotiations.
This includes provisions that could require him to divest certain holdings or place them in a blind trust. Democrats focused heavily on the president's financial interests while lawmakers worked on the legislation.