Senate Republicans Revise Crypto Bill with Trump-Backed Ethics Rules Ahead of Crucial Vote
US Senate Republicans have revised the Clarity Act cryptocurrency legislation to include new ethics language that President Donald Trump has endorsed. The updated text includes conflict-of-interest rules put forward by Republican Senator Thom Tillis and Democratic Senator Ruben Gallego, according to a statement from Senators Cynthia Lummis, John Boozman, and Tim Scott.
Lummis described the ethics restrictions as among the toughest ever applied to a sitting president, federally elected officials, judges, and their spouses. The White House said in a statement that the administration had agreed to what it called the most comprehensive and wide-ranging ethics provision in history.
The revised bill includes new guardrails on affiliate trading, clarifies how state consumer protection laws apply, and adds protections for software developers. It also incorporates a key Democratic demand allowing state attorneys general to enforce ethics requirements on federal officials.