White House · US Senate · Donald Trump · CLARITY Act · Republicans · U.S. · CryptoSlate
New CLARITY Act update bans officials including presidents from issuing or even holding crypto tokens
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On July 22, US Senate Republicans released an updated version of the CLARITY Act, moving one of Washington’s most consequential cryptocurrency bills back toward a potential floor vote.
Key facts
- Those concerns persisted after the Banking Committee advanced CLARITY in a 15-9 vote
- On July 22, US Senate Republicans released an updated version of the CLARITY Act, moving one of Washington’s most consequential cryptocurrency bills back toward a potential floor vote
- Crypto sales exceeding $1,000 would also have to be disclosed, adding digital-asset transactions to the financial activities subject to greater scrutiny while officials are in government
- Republicans are expected to need Democratic votes to reach the 60-vote threshold required to overcome procedural hurdles in the Senate
Summary
01 Senate Republicans released an updated CLARITY Act that bans presidents, lawmakers and other officials from issuing crypto for compensation. 02 The bill could unlock a federal digital-asset framework, but it still needs Democratic votes to clear the Senate's 60-vote hurdle. 03 Negotiators still must settle ethics enforcement and other disputes before the August recess, and no Senate vote is scheduled. The updated text follows weeks of negotiations and seeks to establish a broad federal market-structure framework for digital assets in the United States.