Senate Tackles Conflicts of Interest with Revised Crypto Bill

The U.S. Senate has revised its CLARITY Act to address concerns over conflicts of interest involving President Donald Trump's family and their extensive cryptocurrency interests.

The bill, aimed at establishing a broader federal framework for digital assets, now includes provisions that would bar top government officials from issuing or sponsoring digital assets while in office.

The revised legislation incorporates 126 substantive changes sought by Democrats, including giving state attorneys general a role in enforcing restrictions on public officials' crypto activities.

Under the new rules, federal elected officials and their spouses would have to divest significant financial interests in companies that issue digital assets or place those holdings in a blind trust.