Senator Thom Tillis has declared he will oppose the CLARITY Act unless it includes ethics provisions targeting the Trump family's cryptocurrency businesses. This stance marks a significant deviation from his party, following his recent decision to lift a hold on Kevin Warsh's Federal Reserve chair confirmation. Tillis's demand aligns with Democratic efforts to include language in the bill that would prevent federal officials from sponsoring or issuing digital assets, a move aimed at the Trump family's substantial crypto holdings.
The Trump family's crypto ventures, valued at over $1 billion, include World Liberty Financial, which launched the USD1 stablecoin and is seeking a federal banking license. The push for ethics language in the CLARITY Act is part of broader negotiations led by Senators Adam Schiff and Ruben Gallego, with bipartisan discussions involving White House crypto policy adviser Patrick Witt and GOP Senators Cynthia Lummis and Bernie Moreno. As the Senate Banking Committee aims to advance the legislation, Tillis's conditional support underscores the challenges of passing the bill without a bipartisan agreement on ethics.
Senator Tillis Insists on Ethics Clause in CLARITY Act Targeting Trump Crypto Ventures
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