New Crypto Ethics Bill Could Restrict Trump's Digital Asset Profits
A new draft of the Clarity Act, a 600-plus page cryptocurrency bill approved by Republicans, would impose temporary ethics rules banning public officials, including President Donald Trump, from issuing or sponsoring digital assets until 2029. The provision could restrict Trump from further profiting from his crypto businesses, which earned an estimated $1.4 billion last year. The bill would also require officials to place existing crypto assets in blind trusts or divest them. However, Democrats oppose the measure because it tasks the Justice Department with enforcement while barring state attorneys general from acting. Sen. Angela Alsobrooks (D-Md.) called the enforcement plan 'wild and unserious.' With no Democratic support and the Senate set to leave for August recess, the bill is unlikely to reach the 60 votes needed to advance.
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