Trump's Crypto Fortune at Risk as CLARITY Act Debates Intensify
The CLARITY Act, a bill aimed at regulating the crypto market in the US, has sparked an ethics debate in the Senate. At the center of this controversy is President Donald Trump's involvement with cryptocurrencies and his potential conflict of interest.
According to reports, the Trump family has earned over $1 billion from various crypto ventures since the president took office. The CLARITY Act proposes stronger ethics provisions that would prevent sitting public officials from profiting from cryptocurrencies. If passed, this could force President Trump to divest his crypto-related assets.
The bill requires 60 votes to pass and is expected to be voted on in the Senate within the next few days. Republican Senator Thom Tillis and Democratic Senator Ruben Gallego are negotiating the ethics language to be added to the text. The draft previously supported by Trump prohibited public officials and their spouses from issuing digital assets but excluded other family members and was set to expire in January 2029.
Democrats want the regulation to be permanent, grant enforcement authority to state attorneys general, and add a divestment provision. If the law passes, it is expected that regulatory uncertainty in the sector will decrease and investor protection will strengthen, boosting market confidence and institutional interest.