Legislative Progress on Crypto Clarity Act
Senate Republicans unveiled an updated draft of the crypto Clarity Act that adds ethics provisions barring Trump and other top federal officials from issuing or sponsoring digital assets, with the restriction set to expire in 2029. Senator Cynthia Lummis, a lead negotiator, expressed satisfaction with the updated bill's readiness for release. The draft also includes provisions shielding non-custodial developers from certain regulatory requirements.
However, Democratic lawmakers signaled concerns that the bill 'falls short' on ethics and other issues, indicating ongoing partisan disagreement over the legislation's scope. The ethics ban's temporary nature and reliance solely on Department of Justice enforcement drew particular scrutiny. Negotiators continue working toward final passage, with ethics provisions remaining a point of contention as the bill moves toward a Senate floor vote.
