White House · Donald Trump · Democrats · CLARITY Act · US Senate · Republicans · CryptoSlate
White House pushes back as key Democrats rejects CLARITY Act’s crypto ethics
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The White House pushed back against the Senate Democrats' rejection of the latest version of the CLARITY Act, with ethics remaining a major sticking point.
Key facts
- Elizabeth Warren, the top Democrat on the Senate Banking Committee, said the proposal would fail to prevent Trump from earning another $1.4 billion from crypto
- Alsobrooks and Gallego joined Republicans when the Senate Banking Committee advanced the CLARITY Act in a 15-9 vote in May, although both warned that their committee support did not guarantee backing
- The GOP holds 53 Senate seats and would need at least seven Democrats to reach the 60 votes required to overcome a procedural hurdle, assuming every Republican supports the bill
- On July 22, Senate Republicans submitted revised CLARITY Act legislation to bar the president, vice president, members of Congress, federal judges and other covered officials from issuing
Summary
01 White House rejects Democratic ethics demands that could reshape the CLARITY Act. 02 The dispute risks unraveling a bill central to US crypto market-structure rules. 03 Industry pressure mounts as lawmakers seek a compromise before momentum fades. The clash comes despite President Donald Trump’s decision this week to accept new ethics limits, reflecting how far apart negotiators remain as lawmakers try to advance sweeping crypto market legislation.