CLARITY | Crypto

Senator Lummis argues the CLARITY Act's three illicit-finance provisions are the strongest tool to cut the Lazarus Group off from crypto markets. The post CLARITY Act Is Secret to Killing North Korean Lazarus Hacker Group, Says Lummis appeared first on Cryptonews.

Despite support from Goldman Sachs, Fidelity and law enforcement bodies, the Clarity Act’s chances dim. BitMEX to close as crypto consolidates into five big players. Despite wealthy memecoin entrepreneur President Donald Trump agreeing to an ethics deal, the Clarity Act (CLARITY) is floundering as the August recess deadline looms. Senate Majority Leader John Thune said he doesn’t believe the act has the votes to pass just yet, but may bring it to a vote anyway to “get Clarity started. We’ll see where the votes are.” The ethics deal would prohibit all US officials from issuing or sponsoring digital assets, but contains some “get out of jail free” provisions for the President that the Democrats are unhappy with, including the fact the rules expire the day he is scheduled to leave office in 2029. Read more

The Senate leaves town in two weeks. Here's what needs to happen for Clarity to advance before then.

Section 20216 of the latest CLARITY draft states that a self-custodied digital asset cannot become abandoned, unclaimed, or forfeited. It also cannot become subject to adverse possession or finder's title solely because its owner has not moved it or otherwise shown continued interest. The language overrides state and local laws that treat years of wallet […] The post Lawsuit claims 3.8M dormant BTC using police lost-and-found rules as Congress races to stop it with CLARITY appeared first on CryptoSlate.

Galaxy Digital said the Senate has four working days to save the CLARITY Act, as it cut passage odds to 30%. In a July 24 note to clients, the crypto investment firm lowered its estimate for CLARITY Act chances this year from 50%, saying lawmakers need a deal by July 30 to leave enough time […] The post US Senate has 4 days to save CLARITY Act as odds fall to 30% – Galaxy Digital says appeared first on CryptoSlate.

Fidelity called on the US Senate to pass the CLARITY Act, joining industry groups and crypto firms pushing for market structure legislation. Fidelity called on the US Senate to pass the CLARITY Act on Friday, saying clear digital asset regulations are needed to strengthen investor confidence, provide certainty for market participants and reinforce US leadership in global crypto markets. The company joins a growing coalition of financial firms and crypto organizations urging US lawmakers to advance digital asset market structure legislation. Earlier Friday, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association called on Senate leaders to bring the bill to the floor. Coinbase CEO Brian Armstrong also called for a full Senate floor vote on Wednesday. Read more

The window for US lawmakers to address a comprehensive crypto market structure bill before the 2026 elections is closing, and industry organizations are calling for action. The Crypto Council for Innovation, Digital Chamber and Blockchain Association wrote to US Senate leaders on Friday calling for the chamber to prioritize “floor consideration” of the Digital Asset Market Clarity (CLARITY) Act. In a Friday letter to Senator Majority Leader John Thune and Minority Leader Chuck Schumer, the three cryptocurrency advocacy groups urged consideration of the CLARITY Act, which Republican lawmakers have been pushing for a vote before the chamber breaks for state work periods in August. Although the bill has advanced through the Senate banking and agriculture committees, some lawmakers said they planned to withhold their votes until key provisions were addressed. “[We] recognize that constructive bipartisan negotiations remain underway to secure and expand support for this critical piece of legislation,” said the let...

The revised CLARITY Act is exposing unusual divisions across Wall Street, Washington and the crypto industry as lawmakers struggle to build support for a Senate vote. Senate Republicans this week released a new draft that would bar the president and other federal officials from issuing or sponsoring digital assets. The changes have drawn sharply different […] The post CLARITY Act splits Wall Street and crypto as Goldman Sachs breaks with banks and Charles Hoskinson backs Warren appeared first on CryptoSlate.

On Wednesday, Senate Republicans released the proposed text for the CLARITY Act, which has been met with pushback from Democrats regarding ethics provisions. Democratic Senator Ruben Gallego says he will be working with Republicans to come up with a counterproposal to White House-approved ethics provisions in the CLARITY Act, saying the draft released this week was “not a serious effort.” On Wednesday, Senate Republicans released the proposed text for the Digital Asset Market Clarity (CLARITY) Act, including language on ethics that would bar all US federal officials — including US President Donald Trump — from issuing or sponsoring any digital asset. Democrats said the ethics provisions fall short. “Whatever piece of shit they sent back to us, that was not a serious effort,” Senator Ruben Gallego told Politico on Thursday. Read more

Goldman chief David Solomon will support the crypto market structure bill now in Congress, even as financial companies and banks are hesitant over provisions on stablecoins. David Solomon, chair and CEO of financial giant Goldman Sachs, has given his support for a “not perfect” cryptocurrency market structure bill under consideration in the US Senate even as many provisions continue to divide lawmakers and his fellow industry leaders. According to a Thursday Politico report, Solomon said that the Digital Asset Market Clarity (CLARITY) Act was “not perfect” but needed to create a “level playing field to enhance market stability.” Solomon stands out as the head of a major financial company backing the legislation, which many of his peers are opposing by arguing that the bill allows crypto companies to pay users interest or yield on stablecoins outside standard rules for financial institutions. “The CLARITY Act — like all legislation — is not perfect,” said Solomon, according to Politico. “And there are lots of ...

Both parties say they want US crypto market structure legislation, but a dispute over ethics rules and who enforces them is becoming the bill’s biggest obstacle. The long-awaited US Digital Asset Market Clarity Act (CLARITY) has hit another snag. This time, it’s not software developers or the turf war between federal regulators at stake, but the thornier question of ethics — ironic, given many politicians’ demonstrable disdain for them. After months of negotiations and what Coinbase’s chief executive Brian Armstrong called “thousands of hours of work on both sides,” disagreement over a code of conduct could make or break CLARITY once and for all. Read more

The White House pushed back against the Senate Democrats' rejection of the latest version of the CLARITY Act, with ethics remaining a major sticking point. The clash comes despite President Donald Trump’s decision this week to accept new ethics limits, reflecting how far apart negotiators remain as lawmakers try to advance sweeping crypto market legislation. […] The post White House pushes back as key Democrats rejects CLARITY Act’s crypto ethics appeared first on CryptoSlate.

Bloomberg ETF analyst James Seyffart argued that the CLARITY Act should carry virtually no direct effect on Bitcoin's price. In his view, Bitcoin already holds the infrastructure the bill is trying to build for the rest of the industry: commodity treatment, regulated futures, spot ETF access, and institutional custody. That claim sits inside a wider […] The post Bitcoin rose 2% on CLARITY progress while Coinbase, Circle jumped over 8% – but why? appeared first on CryptoSlate.

According to Senator Cynthia Lummis, one of the bill’s advocates, the ethics language would apply to US presidents’ crypto ventures, including Donald Trump’s. Senate Republicans have released the proposed text for the Digital Asset Market Clarity (CLARITY) Act, including language on ethics that would bar all US federal officials — including President Donald Trump — from issuing or sponsoring any digital asset. In the 616-page text of the CLARITY Act made public on Wednesday, US lawmakers included language that the White House described as the “most comprehensive and wide-ranging ethics provision in history.“ The bill said all public officials, employees and their spouses would be barred from issuing or sponsoring digital assets and crypto platforms would similarly be blocked from listing assets issued or sponsored by federal officials. Text of CLARITY Act released on Wednesday. Source: Cynthia Lummis Read more

According to one lawyer testifying before a House subcommittee hearing, the CLARITY Act could grant the CFTC the authority it needs to address the “explosive growth of prediction markets.” Lawmakers in the US House Committee on Agriculture’s Subcommittee on Commodity Markets, Digital Assets, and Rural Development held a hearing on how the Commodity Futures Trading Commission (CFTC) could address oversight of prediction market companies, including discussions of pending crypto market structure legislation. In a Tuesday hearing on “Examining Customer Protections and Market Integrity in Sports Event Prediction Markets,” Carl Kennedy, a partner at New York law firm Katten Muchin Rosenman, said that the CFTC was likely too “short-staffed” to fully deal with the regulation and enforcement of prediction market platforms like Kalshi and Polymarket. According to the lawyer, the Digital Asset Market Clarity (CLARITY) Act under consideration in the US Senate could grant the commodities regulator additional authority not...

Section 701 would place qualifying assets held for customers in Chapter 7 customer-property rules, while classification and title-transfer clauses still matter. The post Senator Lummis says with CLARITY “your crypto stays yours” – but bankruptcy shields have limits appeared first on CryptoSlate.

President Donald Trump has reportedly agreed to proposed ethics restrictions tied to sweeping US cryptocurrency legislation, addressing one of the biggest obstacles in months of negotiations and shifting the next decision to Senate Democrats who have demanded limits on how public officials can profit from digital assets. The agreement came after Trump met last week […] The post Trump backs crypto ethics limits, putting CLARITY Act decision in Democrats’ hands appeared first on CryptoSlate.

The White House has circulated agreed ethics provision language to Republican senators, removing the key barrier to a Senate floor vote on the Clarity Act. The post Ethics Provision Deal Could Unlock Senate Vote on the Clarity Act appeared first on Cryptonews.

The decision keeps the administration’s chief crypto policy negotiator in place during what could be a decisive few weeks for the CLARITY Act. The White House’s top crypto adviser Patrick Witt said he will no longer take a leave of absence at the end of the month for military training, allowing him to remain at the White House to help advance the CLARITY Act in the Senate. “Last week, it was reported that I was set to leave for mandatory training as part of my service in the Georgia Army National Guard, right before Clarity hits the Senate floor,” Witt said in an X post on Monday.  “While I remain committed to fulfilling my service obligation, I am grateful to report that my training has been deferred, and that I will be able to see this effort through to the end,” he added.  Read more

Coinbase vice chair Ryan VanGrack said that Democratic lawmakers had added provisions on customer protection to a digital asset market structure bill under consideration in the US Senate. As lawmakers in the US Senate are likely to vote soon on the Digital Asset Market Clarity (CLARITY) Act, representatives from advocacy organizations and companies are providing details of closed-door negotiations over the bill, which is expected to be the most comprehensive piece of legislation affecting the crypto industry. In a Monday CNBC interview, Coinbase vice chair Ryan VanGrack said while the final negotiations over text of the CLARITY Act were taking place in the Senate, Democratic lawmakers had added additional protections for customers to give what he called “more teeth” to the legislation. He did not explicitly mention any progress on adding ethics provisions to the bill, which many Democrats said will be necessary for their votes.  “[A]t the end of the day, this is about customer protections,” said VanGrack. “Th...