A dispute over ethics provisions related to former President Trump's crypto interests is obstructing the CLARITY Act from securing the 60 Senate votes needed to overcome a filibuster. The bill, which requires bipartisan support, lacks a conflict-of-interest clause, a gap attributed to the Senate Banking Committee's jurisdictional limits.
Concerns center on Trump family involvement in World Liberty Financial and the TRUMP memecoin, prompting calls for an ethics amendment. Senator Chris Van Hollen's proposal to bar senior officials from holding crypto interests failed in committee. Senator Kirsten Gillibrand emphasized the necessity of an ethics clause, warning of potential corruption without it. Meanwhile, the White House's crypto adviser, Patrick Witt, advocates for broad ethics rules but opposes targeting specific individuals.
With the Senate calendar tightening before the August recess, negotiators face pressure to resolve ethics, law enforcement, and banking issues to secure the necessary votes. The bill's progress remains contingent on addressing these key concerns.
Ethics Dispute Over Trump-Linked Crypto Interests Stalls CLARITY Act
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