CLARITY | Crypto

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...

The fate of the CLARITY Act hinges on Trump’s ethics, so the odds aren’t looking great. Prediction market volumes hit new highs, and more news. Polymarket suggests the odds of the CLARITY Act passing this year are just 40%, after a raft of Democratic Senators, including Chris Murphy, Jeff Merkley and Chris Van Hollen, spoke out against the bill. A crucial Senate vote could happen as early as this week, with Senate Majority Leader John Thune stating it will definitely be held before Aug. 10. Democrat Senator Elizabeth Warren is trying to spoil the vote by highlighting how much money President Donald Trump has extracted from the industry. She demanded Trump voluntarily release his crypto earnings for this year, after his 2025 disclosure, showed he earned more than a billion dollars from crypto last year. The controversy means that Senate Democrats are unlikely to support the bill without a provision banning elected officials promoting or issuing cryptocurrency. Summer Mersinger, the CEO of the Blockchain Associ...

XRP price is trading around $1.09 as Ripple continues to engage U.S. lawmakers amid stablecoin legislation moving through Congress. The post XRP Price Could Double as Ripple Pushes Senate for Clarity Act appeared first on Cryptonews.

US President Donald Trump is set to meet with several senators on Thursday as negotiators race to get the CLARITY Act across the line before the Senate’s August recess. US President Donald Trump is set to meet with several senators at the White House on Thursday to discuss progress on the crypto market structure bill.  According to Politico, Senator Bernie Moreno said a group of senators will brief the president on the bill and “its path to success.” Senator Cynthia Lummis will also attend, according to a Senate Republican aide. “We’ll be talking about the entirety of the bill. I mean, obviously the president’s been very engaged in this bill,” said Moreno. “He’s the one who’s really driven the innovation that I think will pay dividends.”  Read more

Senate Majority Leader John Thune reportedly said the chamber will consider a vote on the crypto market structure bill before Aug. 10, though it’s unclear whether it has enough Democratic support to pass. The US Senate is expected to vote soon on a comprehensive bill to establish market structure rules for digital assets, backed by Republican lawmakers, while some Democrats continue to push for ethics provisions. In a Tuesday press conference, Senators Chris Murphy, Jeff Merkley, and Chris Van Hollen spoke alongside representatives for Americans for Financial Reform and Indivisible and Hollywood actor Ben McKenzie in opposition to the Digital Asset Market Clarity (CLARITY) Act. The lawmakers said that the bill did not address what they called “[Donald] Trump’s crypto corruption,” referring to the US President’s ties to the industry through his memecoin, his family’s World Liberty Financial company and other businesses and investments. “There is no reason to pass a new regulatory system for crypto if this syst...

ABA and state banking associations published a joint letter calling for more detail on the CLARITY Act’s stablecoin yield provisions, ahead of the bill’s House hearing on July 17. A wide swath of the US banking industry is urging Senate leaders to amend the stablecoin yield provisions of the Digital Asset Market Clarity Act (CLARITY) now under consideration.  The American Bankers Association (ABA), the Independent Community Bankers of America (ICBA) and 76 other state banking associations sent a joint letter to Senate leaders that claimed that the current language on stablecoin interest, yield and rewards is too ambiguous and argued that new amendments need to prevent payment stablecoins from acting as deposit substitutes rather than pure transaction tools. The joint letter, which showed support for the broader bill, said the ABA is concerned that ambiguities within the bill “could encourage stablecoin arrangements to effectively function as substitutes for deposits, despite Congress’s longstanding and clearl...

The White House is increasing pressure on the Senate to pass the CLARITY Act before lawmakers leave Washington for their August recess. On July 13, President Donald Trump urged the US Congress to approve the legislation and cast the measure as part of the United States’ competition with China over cryptocurrency and artificial intelligence. He […] The post Trump puts Senate on a 24-day clock to find 60 votes for America’s crypto CLARITY Act rulebook appeared first on CryptoSlate.

The Federal Law Enforcement Officers Association expressed support for the CLARITY Act but urged changes to the legislation’s language. The Digital Asset Market Clarity Act has secured its second public endorsement from a major US law enforcement organization, coming just weeks before what many see as a make-or-break legislative deadline before the Senate’s August recess. In a July 10 statement, the Federal Law Enforcement Officers Association (FLEOA) said it submitted a letter to the US Senate Banking Committee endorsing the CLARITY Act, while calling for changes to strengthen accountability in decentralized finance (DeFi) and preserve investigators’ existing powers.  “[FLEOA] expressing support for CLARITY and confirming what many of us know — this bill is strong on consumer protection and law enforcement,” said Ji Kim, CEO of the Crypto Council, in a statement Monday.  Read more

Five senators called for committee hearings to investigate US President Donald Trump’s policies potentially being influenced by crypto funding from United Arab Emirates-linked and other entities. Five Democratic senators have called for committee hearings “to investigate the national security implications of President Trump’s cryptocurrency holdings” as the chamber considers digital asset market structure legislation. In a Friday notice, the Democratic ranking members of five US Senate committees and subcommittees asked lawmakers to address President Donald Trump’s 2025 financial disclosure, in which he reported earning about $1.4 billion connected to crypto ventures like his memecoin and family’s World Liberty Financial platform. The lawmakers said that the reports “heighten concerns about the President pushing Congress to pass crypto legislation in favor of the very industry he’s cashing in on,” referring to the Digital Asset Market Clarity (CLARITY) Act, on which the Senate is expected to vote this month. ...