The Senate's failed crypto ethics rules covered officials and spouses but stopped at adult children, leaving a major family-wealth gap.
- A proposed crypto ethics rule (CLARITY Act) in the Senate aimed to restrict crypto interests of senior officials and their spouses, but excluded adult children.
- The rule's limitations are highlighted by cases like Commerce Secretary Howard Lutnick, who transferred his stake in Cantor Fitzgerald (involved with Tether) to his adult children, and the Trump family's crypto ventures.
- The article discusses the difficulty in drawing ethical lines when family wealth remains economically exposed to an industry affected by government policy, even after legal separation.
Topics: Legal regulatory, Jurisdictions, Institutional adoption, Securities law classification, Regulatory sandboxes pilots, Onboarding prime brokerage
Tags: #cryptoethics #clarityact #familybusiness #howardlutnick #cantorfitzgerald #tether #usdt #blindtrust #trumpfamily #financialdisclosure
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