US Cryptocurrency Rules Bill Advances After Trump Agrees to Ethics Provisions
The US is moving closer to new cryptocurrency rules after Republican senators released what they described as the final version of the legislation, including revised ethics rules agreed to by President Donald Trump.
The CLARITY Act would divide oversight of digital assets between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
Under the new version, federal officials and their spouses would be required to sell significant cryptocurrency holdings or place them in a blind trust. They would also be prohibited from issuing or sponsoring digital assets while serving in government.
The bill's passage is not guaranteed as it requires 60 votes and at least seven Democrats would have to support the legislation.