Trump Backs Most Crypto Ethics Curbs in Bid to Pass CLARITY Act

President Donald Trump has agreed to most of the CLARITY Act's ethics rules for federal officials with crypto-related interests, according to three Republican lawmakers. The concessions were made to attract Democratic votes ahead of a procedural vote in the Senate on September 15.

The 635-page draft includes 126 changes that sponsors said were made at the request of Democrats. Under the text, public officials and employees are prohibited from issuing or sponsoring digital assets for financial gain, as well as maintaining significant financial interests worth $15,000 or more in entities deriving revenue from digital asset issuance.

The bill also establishes a minimum fine of $500,000 for official violations, with unlawful token issuers required to disgorgement of all profits. Intermediaries violating the listing ban could face fines of up to $250,000 per violation per day.