White House · Donald Trump · US Senate · CLARITY Act · CoinDesk
Industry insiders have contended that getting the ethics section nailed down would launch Clarity through the remainder
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The Senate is set to depart Washington for its lengthy summer recess after the first week of August, leaving only a few weeks to work out a final Clarity Act effort before the lawmakers scatter and begin focusing more intently on November's midterm elections.
Key facts
- But that vocal group didn't include Senator Ruben Gallego, a Democrat who has been at the front of the Clarity Act ethics negotiation for months
- On Tuesday, a few Democratic senators held a press conference to call for Clarity Act opposition if it doesn't sever Trump's "corrupt" ties to the sector
- The Senate is set to depart Washington for its lengthy summer recess after the first week of August, leaving only a few weeks to work out a final Clarity Act effort before the lawmakers scatter
- Senate Majority Leader John Thune has said he'll press forward with Clarity later this month, whether the final language is set or not
Summary
Senior White House officials are planning to meet with senators to work on the most difficult remaining piece of the crypto Clarity Act. If a compromise can be secured, the market structure legislation may find a path through the Senate, though time is running out for passage this year. President Donald Trump is expected to sit down with U.S. senators on Thursday to try to work out the most difficult remaining piece of the bill to regulate U.S. crypto markets, according to people familiar with the plans. As the Digital Asset Market Clarity Act faces the final weeks of potential Senate floor time in which it can most realistically get passed this year, the major unfinished section is the legislation's restriction on senior government officials' personal business interests in the crypto sector. The president and his advisers are expected to meet with senators to work on closing that gap, the people said.