- Trump agreed to about 80% of the Tillis-Gallego ethics proposal, according to a senior GOP aide.
- The revised CLARITY Act would give state attorneys general enforcement powers over certain crypto violations.
- Certain officials would have to divest significant interests in crypto-issuing entities or place them in a blind trust.
- The Senate will hold a procedural vote on September 15, with 60 votes needed to advance the bill.
President Donald Trump has agreed to a major portion of a bipartisan crypto ethics proposal tied to the CLARITY Act, according to Republican senators and a senior GOP aide. The concession comes ahead of Tuesday’s Senate procedural vote, where supporters need 60 votes to advance the bill.
Senate Republicans released a revised version of the CLARITY Act after President Donald Trump agreed to an ethics compromise.
Sponsored
The concession addresses conflict-of-interest concerns raised by Sen. Thom Tillis and Democratic senators whose votes are needed to advance the measure Tuesday.
What Crypto Ethics Rules Did Trump Accept?
The original bill included a provision barring federally elected officials and their spouses, as well as federal judges, from issuing digital assets.
A bipartisan group led by Tillis and Sen. Ruben Gallego pushed for stronger enforcement, demanding that state attorneys general be allowed to act alongside the Justice Department.
Trump agreed to roughly 80% of the Tillis-Gallego ethics proposal, according to a senior GOP aide cited by AP News, in an effort to clear the path for the 60-vote procedural threshold in the Senate.
The updated bill would require certain officials to divest significant crypto-related financial interests or place them in a blind trust.
The revised bill would allow state attorneys general to sue crypto exchanges that list digital assets barred under the legislation, according to a senior GOP aide.
Republican Sens. Cynthia Lummis, Tim Scott, and John Boozman confirmed on X, adding that the changes give state attorneys general a meaningful enforcement role.
Why Was the CLARITY Act Stuck?
Democratic senators have made stronger conflict-of-interest protections a condition for advancing the bill. Tillis and Gallego had specifically pushed for state-level enforcement authority alongside the Justice Department.
White House officials had previously raised concerns that state attorneys general could use the authority for political purposes, according to people familiar with the discussions.
White House crypto adviser Patrick Witt said Sunday that the administration had responded to Democrats’ policy concerns after more than a year of negotiations.
The CLARITY Act is designed to establish a federal framework for digital-asset market regulation, making the ethics dispute a key political hurdle to broader crypto legislation.
DailyCoin previously reported that ethics provisions remained among the central obstacles to the bill’s progress.
What Happens in the Senate on September 15?
The Senate is scheduled to hold a procedural vote on September 15, with 60 votes needed to advance the bill.
If the procedural vote fails, the Clarity Act’s path to enactment in 2026 would become significantly more difficult, particularly with the November midterm elections approaching.
Stay in the loop with DailyCoin’s top crypto scoops:
Bitcoin Price Surges to $78.7K After CPI as Bulls Recover Key Ground
Blockstream Rejects Ransom After 4,000 BTC Liquid Network Hack