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Clarity Act draft includes temporary ethics limits on the president
The conflict-of-interest provision would sunset in 2029, and regulators would have one year after enactment to implement it.
CoinDesk reports that lawmakers have circulated draft language for the next version of the U.S. Clarity Act, part of an effort to finalize a “digital asset market” legislation pushed toward the Senate as it nears its final work before summer recess.
The latest circulating draft includes an ethics, conflict-of-interest section aimed at restricting crypto ties for the president, though the measure is described as temporary, with the provision set to sunset in 2029.
The report says the ethics section has been a central point of contention and followed discussions tied to how Republicans would address the biggest remaining hurdle. It also notes that the Department of Justice would retain responsibility for policing related ethics complaints.
CoinDesk adds that Democratic lawmakers had not yet seen the draft details when it circulated, and the Senate would be expected to need at least 10 Democrats to approve the final bill given the chamber’s typical 60-vote threshold. The broader legislation text is described as reflecting work across Senate committees and adding new language intended to improve protections for digital asset users and investors.