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President Donald Trump has agreed to accept ethics language in a major U.S. crypto market structure bill for the CLARITY ACT. However, lawmakers have not released the wording. The provision is part of talks over the CLARITY Act, which would create federal rules for digital asset markets. One account said Trump accepted the provision, while another said no final agreement had been confirmed.
Lawmakers Have Not Finalized the Ethics Rules
Trump met with Republican senators and White House officials after Democrats made conflict-of-interest rules a condition for supporting the bill. Senators Cynthia Lummis and Bernie Moreno were involved in the talks as Republicans searched for a compromise.
Trump is reportedly open to some form of ethics language, but its scope remains unknown. Negotiators must still decide which officials and family members would be covered and whether the rules would apply to existing crypto holdings.
Democrats Demand Conflict-of-Interest Limits
Democratic lawmakers want the bill to prevent presidents, members of Congress, and senior officials from using public office to benefit private crypto businesses. The debate has focused on Trump’s financial ties to the industry, including the Trump-family-backed DeFi project World Liberty Financial.
An earlier ethics amendment, introduced by Senator Chris Van Hollen, would have barred elected officials and their immediate families from issuing digital assets or owning crypto platforms while in office. The Senate Banking Committee rejected it during the May markup. The committee later advanced the wider bill in a bipartisan 15-9 vote.
CLARITY Act Sets Federal Crypto Rules
The CLARITY Act would clarify when digital assets fall under SEC or CFTC oversight. It would also set rules for crypto platforms, token sales, customer protection, anti-money laundering controls and decentralized finance.
The legislation also addresses rewards offered on stablecoin balances. The Senate version would reportedly restrict rewards on idle stablecoin holdings while allowing incentives tied to transactions, reflecting a compromise between banks and crypto firms.
Bill Still Needs Democratic Votes
Republicans control the Senate, but the bill will likely need 60 votes to overcome a filibuster. Republican leaders therefore require support from several Democrats.
The ethics provision could improve the bill’s chances, but other disputes remain. Senate leaders have not announced a confirmed floor vote date, and lawmakers still need to complete the final text before the bill can advance.
