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Blockchain Association CEO Summer Mersinger said the crypto industry is not trying to dictate the ethics provisions holding up the U.S. Senate’s market-structure bill.
Speaking at the Injective Summit in Washington on July 16, Mersinger said lawmakers were close to agreement on the CLARITY Act’s core market-structure language. She warned that the ethics fight could block the wider bill even if lawmakers agree on its regulatory framework.
Mersinger Says Ethics Language is Congress’s Decision
Mersinger described ethics as the “big elephant in the room” after congressional offices repeatedly identified it as the main unresolved issue. She said the Blockchain Association’s members would accept whatever lawmakers decide on those restrictions.
“Whatever you decide on ethics, that’s really not our concern,” Mersinger said.
She framed that question as a matter for Congress and elected officials, while urging lawmakers not to let it derail the wider regulatory package. The comments referred specifically to the trade group’s role in negotiations. They did not state that ethical conduct in crypto markets is unimportant or outside the industry’s responsibilities.
Democrats Seek Limits Over Trump Crypto Interests
The ethics dispute centers on whether senior government officials and their families should face limits on owning or profiting from digital asset businesses while shaping crypto policy. Several Senate Democrats have said they will not support the bill without enforceable protections.
Their objections intensified after financial disclosures showed President Donald Trump received more than $1 billion in crypto-related revenue, including income connected to World Liberty Financial and his memecoin.
Trump met Republican senators and advisers at the White House on July 16 to discuss the bill and possible ethics language. Any compromise must attract Democratic votes because the legislation needs 60 senators to overcome a filibuster.
CLARITY Act Would Split SEC and CFTC Oversight
The CLARITY Act would define when digital assets fall under securities or commodities rules. It would also give the Commodity Futures Trading Commission authority over spot digital commodity markets.
The Senate Banking Committee advanced its version 15-9 in May with support from two Democrats. The Agriculture Committee approved a separate digital commodity bill, leaving negotiators to combine both texts before a floor vote.
Mersinger Says Senate Vote Could Come Next Week
Mersinger said a Senate vote could come as early as the following week if lawmakers settle the ethics dispute. That timing has not been set as a formal vote schedule.
The August state work period leaves senators little time to resolve the ethics language and combine the Banking and Agriculture Committee texts.
The next step is a compromise that can keep Republican support while attracting enough Democrats to clear the Senate’s 60-vote threshold.
