White House Pushes Senate on Clarity Act Ethics Deal

The White House is applying pressure on Senate Democrats to accept a conflict of interest agreement worked out between President Donald Trump and Republicans. Negotiators hope this compromise will resolve the final major dispute holding up the Digital Asset Market Clarity Act. A White House official stated that Trump agreed to a comprehensive ethics provision, though specific details about the restrictions remain under wraps.

The proposed ethics section is designed to restrict senior government officials from maintaining personal business ties to the crypto industry. This includes the president, whose family holdings gained significant wealth since he returned to office. Democratic lawmakers have not yet received briefings on the concession, and release of the final draft has stalled while negotiators finalize the wording. Treasury Secretary Scott Bessent also urged Congress to pass the bill before the upcoming August recess.

Democratic senators, including Kirsten Gillibrand, Ruben Gallego, and Angela Alsobrooks, previously insisted on a strong ethics provision before giving their final support. The Clarity Act previously cleared the Senate Banking Committee, but time is running short. The Senate has less than three weeks to finish the bill and clear a floor vote before the August 7 deadline, with market analysts currently placing the odds of passage at fifty fifty.