White House seeks Senate support for crypto ethics deal in Clarity Act push

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White House seeks Senate crypto ethics deal

Highlights

Trump accepted the White House's broadest ethics provision proposal to resolve disputes stalling the Senate's Clarity Act crypto bill draft.
Democratic Senators including Gillibrand, Gallego, and Alsobrooks demand rigorous ethics language amid reports Trump earned over $1 billion from crypto interests last year.
Senate faces a tight timeline to vote on the Clarity Act before election campaigning begins, while Democrats express concerns about relying on the Department of Justice for enforcement.

Ethics provision stalls final Senate draft

As first reported by CoinDesk, a White House official says Trump has accepted what the administration calls the broadest ethics provision ever offered, in an effort to resolve the biggest remaining dispute holding up the Senate version of the crypto market structure bill.

The unresolved section is designed to limit personal business ties between senior government officials and the crypto industry, including the president. Negotiators have delayed release of the final Clarity Act draft for several days while they try to settle that language.

Democratic lawmakers have not been briefed on the substance of Trump's concession, according to people familiar with the matter cited in the report. Senators including Kirsten Gillibrand, Ruben Gallego and Angela Alsobrooks are said to be seeking a strong ethics framework because of Trump's extensive crypto ties.

The dispute intensifies after disclosures that the president made more than $1 billion last year from crypto interests. A White House official argues that if Democrats block the bill after the administration addressed their concerns, they would be responsible for preventing the legislation from advancing.

Political pressure builds around passage timeline

The crypto industry and Republican backers are already mounting a public campaign to secure support for the revised bill, while Democrats remain wary of endorsing provisions they have not yet seen. Industry participants expect the full legislative text to circulate as soon as Tuesday night or Wednesday, though that timeline has already slipped repeatedly since last week.

The Senate faces a tight calendar to finish the bill, including the ethics language, and move it through a floor vote before lawmakers leave Washington for reelection campaigning. Even without a major new debate, the timetable remains narrow.

Questions also persist over enforcement. Alsobrooks tells Crypto In America that relying on the Department of Justice to police ethics violations is "unserious," reflecting Democratic concerns that a department led by Trump loyalists may not act independently if the rules are tested against the president.

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