Trump Agrees to Ethics Provisions, Clarity Act Advances Senate Voting Process

TechFlow reports that on July 21, according to The Block, insiders stated that Trump has agreed to the ethics provisions in the cryptocurrency legislation, clearing the final major obstacle for the continued advancement of the Clarity Act. The bill aims to establish a comprehensive regulatory framework for the digital asset industry at the federal level for the first time, and delineate the regulatory jurisdictions of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission.

The report states that the relevant bill text is expected to be released in the coming days, followed by a potential vote in the Senate. The current controversy centers on conflict-of-interest issues surrounding Trump's meme coin project and his family-affiliated company, World Liberty Financial.