Trump's Concessions Give Bitcoin a Boost as Clarity Act Vote Looms
Bitcoin (BTC) regained $78,000 after Sen. Cynthia Lummis praised President Donald Trump for concessions made in the CLARITY Act ahead of its vote on Tuesday.
Lummis stated that the revised text gives state attorneys general direct authority to enforce ethics restrictions on federal officials and also allows them to pursue digital asset exchanges and issuers under consumer protection laws.
The final version incorporates 'substantially all' of the Tillis-Gallego framework and over 120 changes sought by Democrats, including stronger conflict-of-interest rules for crypto exchanges, restrictions around affiliate trading, and Treasury 'circuit-breaker' authority designed to protect community banks.
Sen. Lummis framed Tuesday's vote as a make-or-break moment for the legislation, warning that rejection would derail both the ethics package and broader consumer protections for digital asset holders.