Senate Crypto CLARITY Act Hits Roadblock Over Trump Family Ethics Disputes
The Senate's bipartisan cryptocurrency regulatory bill, the CLARITY Act, is struggling to pass due to ethics disputes related to President Donald Trump and his family's crypto business interests.
Despite initial optimism and broad industry support, the bill has stalled amid lobbying battles between crypto companies and traditional banks over ethics provisions.
Senate Republicans and Democratic aides agree that without White House support, the bill will likely fail. Senator Thom Tillis warned, 'If there's no interest in the White House in trying to bridge the gap on the ethics language, it is going to fail.'
The CLARITY Act aims to clarify federal rules for digital assets and set protections for developers and financial institutions involved in crypto.