White House Backs Ethics Rules for Crypto Bill

A major roadblock for the Digital Asset Market Clarity Act has been removed as the White House and Senate Republicans reached an agreement on ethics provisions. The new language specifically addresses conflict of interest rules that apply to President Trump, following concerns over his significant crypto holdings and involvement in projects like World Liberty Financial.

Under this latest deal, the Department of Justice will handle enforcement of these ethics rules. This change replaces a previous proposal that would have allowed state attorneys general to sue the federal government over enforcement failures. The adjustment was designed to resolve Republican concerns, though the bill still faces a tough path to securing enough Democratic support.

To pass a Senate floor vote, the bill needs 60 votes to overcome a filibuster. Senate Majority Leader John Thune is pushing for a vote before the August recess. If the legislation manages to pass the Senate in the coming weeks, it must still gain approval in the House and move through the necessary steps to become law.