Trump-Backed Crypto Bill Would Greenlight Corruption, Critics Say

The crypto industry is pushing for the Clarity Act, which would establish a federal regulatory framework and legitimize its business. However, critics argue that the bill would benefit President Trump personally.

Under the current version of the Clarity Act, most regulatory responsibility falls to the Commodity Futures Trading Commission (CFTC), a small agency with a relatively permissive approach to industry oversight. In contrast, the Securities and Exchange Commission (SEC) has a more rigorous approach to regulation and enforcement.

Trump's financial disclosure revealed he earned about $1.4 billion in 2025 from his family's crypto ventures, including the meme coin and World Liberty Financial. A permanent regulatory environment would likely make Trump's holdings even more valuable.

Senator Cynthia Lummis released a new version of the Clarity Act, claiming it imposed meaningful ethics requirements on Trump. However, critics argue that the bill does nothing to limit Trump's conduct. The legislation prohibits 'covered individuals' from issuing digital assets like cryptocurrencies or meme coins, but grandfathered in existing assets.