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CLARITY Act ethics language would bar officials from sponsoring digital assets

Democrats criticized the ethics provisions as insufficient and said a counterproposal is being prepared.

Reported · Written up by our desk · Regulation

Senate Republicans released the proposed Digital Asset Market Clarity, or CLARITY, Act text, including ethics language that would prohibit US federal officials from issuing or sponsoring any digital asset.

According to Cointelegraph, the proposed ban would apply to all US federal officials, including President Donald Trump, and Democrats said the ethics provisions do not go far enough.

Cointelegraph reported that Senator Ruben Gallego, citing comments to Politico, said the revised language was not a serious effort and indicated he would work with Senator Thom Tillis and other Republicans on a counterproposal.

Gallego also said Democrats plan to send back additional language, adding that they are still engaged in the negotiations over the bill.

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