- Trump reportedly accepted the final ethics provision, removing the last major obstacle to Senate consideration.
- Lawmakers are expected to release updated CLARITY Act text before seeking a vote ahead of the August recess.
- The bill would establish a federal crypto framework and define SEC and CFTC oversight responsibilities.
President Donald Trump has agreed to an ethics provision for the CLARITY Act, removing the final major obstacle before the Senate considers the crypto market structure bill. According to journalist Eleanor Terrett and multiple industry sources, the White House sent the agreed language to certain Senate Republicans on Monday, while lawmakers race to complete action before the first week of August.
Ethics Deal Unlocks Next Stage
The ethics provision followed months of negotiations between the White House and lawmakers. According to industry sources, Trump approved the proposal after earlier discussions with Senators Cynthia Lummis and Bernie Moreno, along with White House crypto adviser Patrick Witt.
Eleanor Terrett reported that industry participants expect the agreement to accelerate the release of updated legislative text. However, Democrats had not yet reviewed the latest language at the time of reporting.
The proposed provision would prevent presidents, vice presidents, members of Congress and other federal officials from profiting from digital assets while serving in office.
Senate Awaits Updated Bill
Attention now shifts to the revised CLARITY Act text, which lawmakers expect to release in the coming days. Afterward, the Senate will decide whether to advance the legislation before lawmakers leave for the August recess.
According to previous reports, the ethics debate became the final unresolved issue after concerns surrounding President Trump’s digital asset activities and his family’s World Liberty Financial venture.
Meanwhile, Summer Mersinger, former Commodity Futures Trading Commission commissioner and Blockchain Association chief executive, recently said the Senate vote could take place this week if negotiations conclude.
Industry Watches Final Timeline
The CLARITY Act would establish the first comprehensive federal framework for digital assets while defining oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Ripple Chief Legal Officer Stuart Alderoty has urged lawmakers to support the bill, while Coinbase Vice Chair Ryan VanGrack said the legislation would strengthen consumer protections and address regulatory gaps.
If the Senate approves the measure, it will return to the House of Representatives before reaching President Trump’s desk for final consideration.
