U.S. Senate crypto bill negotiations hinge on Trump ethics meeting

Traders Union
All News
Crypto
Senate crypto bill ethics talks

Highlights

President Donald Trump will meet Thursday with Republican senators and advisers to address ethics provisions in the Clarity Act, a move seen as pivotal for advancing the Senate crypto bill.
Senate leaders aim for a full Senate vote on a broad digital asset bill before the August recess, with updated legislative text expected by week's end.
Bipartisan negotiations center on whether to restrict federal officials from profiting from digital assets, intensified by Trump’s disclosed hundreds of millions in crypto-related income from World Liberty Financial.

Thursday meeting shapes legislative path

As first reported by The Block, President Donald Trump is due to meet Thursday afternoon with Republican Sens. Bernie Moreno and Cynthia Lummis, White House crypto adviser Patrick Witt and White House Chief of Staff Susie Wiles to discuss ethics language tied to the Clarity Act.

Solana Policy Institute President Kristin Smith says the purpose of the meeting is to present ideas on the ethics issue and seek Trump's approval. Smith describes the session as critical to passing the bill, while a crypto industry source says movement on the legislation hinges on the outcome and views Trump's attendance as a sign that he wants a deal completed.

The Senate is working quickly to advance a broad digital asset bill in the next few weeks, with multiple news reports saying Senate Majority Leader John Thune wants a full Senate vote before the August recess. Updated legislative text is still expected before the end of the week.

Ethics debate drives bipartisan pressure

Negotiators from both parties have spent months debating whether the bill should include provisions restricting presidents, vice presidents, members of Congress and other federal officials from profiting from digital assets while in office.

That debate intensifies last month after Trump's financial disclosure shows hundreds of millions of dollars in crypto-related income tied to his family's company, World Liberty Financial. Democrats including Sens. Elizabeth Warren and Chris Murphy argue that ethics language is essential, and Sens. Ruben Gallego and Angela Alsobrooks say they support the legislation in committee but want the issue resolved before a full Senate vote.

Speaking Tuesday at Maryland Blockchain Week, Alsobrooks says progress is still possible in the coming weeks but that Republicans need to ensure the concerns are addressed. Later the same day, Democratic Sens. Chris Van Hollen, Murphy and Jeff Merkley hold a press conference against the Clarity Act, urging the Senate not to advance any crypto bill without ethics safeguards.

Republicans say negotiations remain active. Lummis tells Fox Business that lawmakers continue to work through options, pushes back on a proposal allowing state attorneys general to sue an elected official, and says the use of blind trusts remains under consideration.

Our earlier coverage of the Senate HELP Committee’s approval of four Trump nominees described how the panel advanced candidates for key posts overseeing labor statistics, labor oversight and the humanities, sending the nominations to the full Senate for final votes. We noted that the tight committee margins underscored the political friction around staffing decisions that can influence how federal agencies execute policy priorities.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.