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White House sends ethics package language for Crypto Clarity Act to Senate
The update follows a Trump Oval Office meeting with key crypto bill stakeholders, and senators have until the end of the week to tee up a cloture vote to reach the floor before the August recess.
The White House agreed on an ethics package for the Crypto Clarity Act and sent the language to certain Senate Republicans, according to Yahoo Finance. The move is expected to raise the chances of updated bill text being released soon, after negotiations had not yet made the administration’s position clear as of Monday morning.
The bill was advanced through talks that followed a meeting in the Oval Office between President Donald Trump and Chief of Staff Susie Wiles, Acting Attorney General Todd Blanche, Senator Cynthia Lummis, and Senator Bernie Moreno, with Democrats not invited. Yahoo Finance reported that Democrats have demanded stronger guardrails on Trump’s crypto business ties as a condition for their support, and the measure requires 60 Senate votes to advance, making bipartisan support effectively necessary.
With only 14 working days remaining before the August recess, negotiators would need to set up a cloture vote by the end of the week for the bill to reach the Senate floor in time. Yahoo Finance also noted that Blockchain Association CEO Summer Mersinger expects the Blockchain Regulatory Certainty Act provisions to remain intact, while the Senate Agriculture Committee portion and other elements remain under active negotiation.