Last week, several Senate Democrats gathered for a press conference explaining their opposition to the Clarity Act, and warning of the crypto sector’s rapidly growing influence in Washington.
The party has been split during the months of negotiations over Clarity, with some senators consistently opposing the bill under Elizabeth Warren’s banner and others actively negotiating with Republicans. And one common position among Democrats has been that Clarity will need that ban on government officials’ digital assets involvement, which throws a spotlight on Trump’s dealings.
In the wake of Trump’s personal financial disclosures that revealed he’d earned more than $1 billion from his crypto interests last year, Democrats have latched on to those figures as proof of their accusations of corruption and conflict of interest in the White House.
Republican senators met with Trump about it last week. By Monday, the Republicans had fixed on an accord. A White House official told CoinDesk on Monday that Trump had “agreed to the most comprehensive and wide-ranging ethics provision in history.”
The legislation would give regulators a year to implement the new ethics constraints. It’s not yet clear when such limits might be effective for Trump, nor is it clear what he’d do about them in regard to his many crypto business ties, including an ownership stake in World Liberty Financial.
Powered by WPeMatico
