Trump Concedes on Ethics Rules, Clearing Path for Major Crypto Legislation
US President Donald Trump has agreed to revised ethics rules, paving the way for major cryptocurrency legislation. The CLARITY Act would divide supervision of digital assets between the US Commodity Futures Trading Commission and the Securities and Exchange Commission.
The bill's House version passed in July 2025 by a significant margin, but was stalled due to disagreements over Trump's financial disclosures. These showed crypto-linked income ranging from $1.4 billion to $2.2 billion, including ties to the TRUMP memecoin and World Liberty Financial.
Under the agreed text, federal officials and their spouses must divest significant crypto holdings or place them in a blind trust, and are barred from issuing or sponsoring digital assets while in office.