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Trump approves ethics language tied to CLARITY Act negotiations
The deal would shift next steps to Senate Democrats, with the bill facing potential floor hurdles like a 60-vote filibuster threshold.
President Donald Trump has reportedly approved proposed ethics restrictions tied to sweeping US cryptocurrency legislation, moving one major negotiating obstacle closer to completion but not guaranteeing Democratic support, according to CryptoSlate.
The reported approval followed a July 16 meeting Trump held with Republican Sens. Bernie Moreno of Ohio and Cynthia Lummis of Wyoming and White House crypto adviser Patrick Witt to discuss ethics provisions for the Digital Asset Market Clarity Act, or CLARITY Act. Moreno said on CNBC the president accepted what he characterized as the “most aggressive ethics language” in US history, while negotiations were still expected to continue.
The CLARITY Act would create a federal framework for digital-asset markets, expanding Commodity Futures Trading Commission (CFTC) oversight of digital commodities while preserving Securities and Exchange Commission (SEC) authority over securities. It would also impose registration and customer-protection requirements on crypto intermediaries.
The bill’s progress is tied to unresolved issues in the Senate, including ethics coverage for members of Congress and additional work on financial-crime provisions. The House passed an earlier version of H.R. 3633 by a 294-134 vote in July 2025, and the Senate Banking Committee advanced its version 15-9 on May 14, but the change in who must act next leaves the outcome uncertain as the legislation heads toward a Senate floor vote requiring 60 votes to overcome a filibuster.