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Clarity Act draft adds Trump crypto ethics ban that expires in 2029
The draft bars covered public officials and their spouses from issuing or sponsoring digital assets while in office, but keeps the ban in place only until January 20, 2029, with enforcement handled solely by the DOJ.
Decrypt reports a new draft of the Clarity Act would bar the president, officials and their spouses from issuing or sponsoring cryptocurrency while they are in office, addressing conflicts of interest raised over crypto-linked business activity.
The ethics restrictions would expire after January 20, 2029, using a sunset clause that says the provision has no force or effect beginning at noon that date, and the draft assigns enforcement to the Justice Department.
The center of the current ethics debate includes President Donald Trump’s meme coin ventures and a family-linked company called World Liberty Financial, after financial disclosures showed Trump earned more than $1.2 billion from crypto businesses last year, a point Democrats have cited as evidence of conflicts.
The draft also preserves the Blockchain Regulatory Certainty Act safe harbor, which confirms that non-custodial developers are not “money transmitters,” and it notes that the restrictions do not extend to the children of public officials.