Updated
Updated · Fox News · Jul 24
Senate Delays 600-Page CLARITY Act as Democrats Reject Trump Crypto Ethics Curbs
Updated
Updated · Fox News · Jul 24

Senate Delays 600-Page CLARITY Act as Democrats Reject Trump Crypto Ethics Curbs

3 articles · Updated · Fox News · Jul 24

Summary

  • John Thune said the Senate likely cannot finish the CLARITY Act next week, slowing a floor push that supporters wanted completed before the August recess.
  • Democratic resistance centers on ethics provisions in the 600-page bill that would bar federal officials from issuing, promoting or sponsoring crypto, while allowing divestiture or a blind trust after one year.
  • Elizabeth Warren, Cory Booker and other Democrats argue the language still lets Trump profit through family-linked ventures, gives enforcement to Acting Attorney General Todd Blanche and expires on Jan. 20, 2029.
  • The dispute has intensified because Trump’s reported income jumped about 250% from just over $620 million in 2024 to roughly $2.2 billion in 2025, with much of the increase tied to crypto holdings and ventures.
  • Cynthia Lummis and Bernie Moreno say the bill is meant to create durable crypto rules, not target one president, but bipartisan agreement now looks necessary to move the legislation this year.

Insights

Will the CLARITY Act's strict new compliance rules accidentally drive the crypto industry out of the US instead of saving it?
How will the proposed stablecoin guardrails impact everyday investors relying on digital asset rewards for high yields?