Senate Republicans Revise Clarity Act with Tougher Ethics Restrictions
U.S. Senate Republicans have released a revised draft of the Clarity Act, major cryptocurrency legislation that includes new ethics language approved by President Donald Trump.
The bill's final text includes conflict of interest rules put forth by Senators Thom Tillis and Ruben Gallego, according to a statement from Senators Cynthia Lummis, John Boozman, and Tim Scott.
President Trump has voluntarily agreed to unprecedented ethics restrictions that will hold every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in U.S. history, said Senator Lummis.
The crypto industry has spent hundreds of millions of dollars campaigning to advance the Clarity Act, which it says will put crypto companies on a solid legal footing.