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White House urges Senate Democrats to accept crypto ethics deal
The White House says the proposed ethics provision would limit the president’s own crypto activities, but the details have not been released as the bill nears final Senate hurdles.
The Trump White House is pressing Senate Democrats to accept an ethics provision tied to the proposed Digital Asset Market Clarity Act, according to CoinDesk. White House officials say President Donald Trump made concessions to allow the bill to move forward, though it is unclear what those terms actually include.
CoinDesk reports that a White House official described the package as the most comprehensive and wide-ranging ethics provision in history, aimed at restricting senior officials from personal business ties to the crypto industry. The outlet also notes the restriction is intended to address conflict concerns involving Trump, who is described as heavily involved in crypto, but Democrats have not been briefed on the specific agreement details.
Negotiations are reportedly in the final stretch before Congress’ August recess, and the final draft of the Clarity Act has been delayed by several days while negotiators tried to finalize the section covering official restrictions. Bitcoin Magazine similarly reports that White House officials want Democrats to accept the deal.
CoinDesk adds that Democratic lawmakers have signaled hesitation about assuming the ethics language will resolve their concerns. Republicans and crypto industry stakeholders have begun pushing the administration’s proposal, while the White House argues Democrats are blocking the legislation despite the administration accommodating their objections.
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