Crypto
Home›Crypto›Regulation›Democrats press ethics limits as Clarity Act crypto pr…
Democrats press ethics limits as Clarity Act crypto provisions near a vote
Democratic negotiators are focused on an ethics clause after President Donald Trump disclosed crypto wealth that rose by about $1.4 billion, with language still unresolved as the Senate seeks to move the bill on a tight timeline.
CoinDesk reports that talks among U.S. Senate Democrats over the crypto Clarity Act are being shaped by scrutiny of President Donald Trump’s recently disclosed crypto wealth. The negotiations center on an ethics provision meant to limit conflicts for senior government officials tied to the industry being regulated.
According to CoinDesk, a draft of the Digital Asset Market Clarity Act is expected to emerge within the next couple of days as Senate timing grows short for advancing the long-awaited legislation. However, lawmakers have not yet finalized what the ethics section should require.
CoinDesk says ethics and anti-corruption advocates gathered by Senator Chris Murphy argued in a briefing to Senate Democratic offices that Trump should be prevented from further profit from the crypto sector his administration regulates. The argument included extending restrictions to officials’ “familiar members,” with bans on ownership and requirements on disclosure.
The outlet also reports that the ethics provision is among the remaining sections still being ironed out before the bill can be taken up for a Senate floor vote, and industry participants are watching for the latest bill text even as some issues are expected to remain undecided.