Insiders say that the bipartisan Senate duo revamping the bill's Trump-approved ethics section have come up with something they hope wins sufficient yes votes.
- US Senators Thom Tillis and Ruben Gallego are working on a compromise for the Clarity Act's ethics provision, aiming to address concerns about cryptocurrency conflicts of interest for senior officials.
- The proposed changes are particularly focused on President Trump's business ties to crypto, with a White House-approved section facing criticism for being too lenient.
- The bill's passage is time-sensitive, with a looming August recess and potential political shifts after the midterm elections impacting its chances of becoming law this year.
Topics: Legal regulatory, Jurisdictions, Institutional adoption, Securities law classification, Regulatory sandboxes pilots, Banking depository pilots
Tags: #clarityact #cryptolimits #senate #ethicsprovision #trump #thomtillis #rubengallego #stablecoinrewards #defi #legislativecompromise