Trump Accepts Stricter Ethics Rules as Republicans Send 'Final' CLARITY Act Offer to Democrats
Senate Republicans released a 635-page revised text of the CLARITY Act, calling it their 'final' offer to Democrats, according to Cointelegraph. The draft arrives two days ahead of a key procedural vote, Cointelegraph reported.
President Trump agreed to stricter ethics restrictions limiting officials and their spouses from crypto-related dealings, according to The Block, a move AP described as necessary to save the bill, per CoinDesk. A White House crypto adviser said Trump gave up 'historic' ethics powers in the compromise, CoinDesk reported.
Per The Defiant, the revised ethics section drops a January 20, 2029 sunset clause on the restrictions, reverses earlier language barring state attorney general enforcement, and raises civil penalties from The ethics division drops the Jan. 20, 2029 sunset, reverses the July text's bar on state attorney general enforcement, and raises civil penalties from 10% of the take or $500,000, whichever is less, to 20% or $500,000, whichever is greater.
of the take or The ethics division drops the Jan. 20, 2029 sunset, reverses the July text's bar on state attorney general enforcement, and raises civil penalties from 10% of the take or $500,000, whichever is less, to 20% or $500,000, whichever is greater.
— whichever is less — to The ethics division drops the Jan. 20, 2029 sunset, reverses the July text's bar on state attorney general enforcement, and raises civil penalties from 10% of the take or $500,000, whichever is less, to 20% or $500,000, whichever is greater.
of the take or $500,000, whichever is greater.
Decrypt reported that Republicans are framing the text as their 'last, best and final offer,' and that it concedes ground on DeFi and stablecoin provisions that had stalled negotiations, though it remains unclear whether enough Democrats will support it at the Tuesday vote. CoinDesk noted that odds on prediction markets for the bill’s passage jumped, but cautioned the legislation still faces a long path forward. Decrypt noted the vote precedes an FOMC meeting the following day.
Sources: Cointelegraph, The Block, CoinDesk, Decrypt, The Defiant
This article is for information only and is not financial advice.
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