Trump Agrees to Tougher Ethics Restrictions in Deal for Clarity Act Passage

U.S. President Donald Trump has agreed to tougher ethics restrictions to help pass the Clarity Act, a bill aimed at clarifying the classification of digital assets as securities, commodities, or stablecoins.

According to Senator Cynthia Lummis, a pro-crypto Republican, Trump's agreement is a significant step forward for the bill, which has been stalled in Congress due to disagreements between lawmakers and the banking lobby.

Lummis praised Trump's decision, saying it was 'the toughest ethics restrictions on federal officials in American history.'

The Clarity Act, which will be voted on by lawmakers on Tuesday, aims to give state attorneys general the power to enforce conflict-of-interest rules on federal officials and provide clarity for the crypto industry.