Trump Discusses CLARITY Act as Senate Votes
The procedural vote is set to open debate on the CLARITY Act, but an ethics clause involving Trump and his family is making Democratic support uncertain.
Key Takeaways
- Trump spoke with advisers Friday about a controversial section in the CLARITY Act, while the Senate holds a procedural vote Tuesday.
- The ethics section bans the president, vice president, and top officials from launching or promoting their own coins; spouses are also covered by the rule.
- Seven Democrats are needed for cloture, but they do not want to vote yes as long as children are left out of the ethics provision.
President Donald Trump spoke Friday with advisers about one controversial section in the CLARITY Act, while the Senate holds a crucial procedural vote on Tuesday, September 15. The text has not been changed since that meeting, and that standstill is only adding to the uncertainty around a bill that is supposed to finally give the US crypto market a clear rulebook.
Controversial Ethics Section
The CLARITY Act is meant to define the roles of the SEC and the CFTC and give more clarity around crypto oversight in the United States. Wall Street supports the bill, and so does Trump, but one paragraph is still blocking the process. That section bans the president, vice president, top officials, and their spouses from launching or promoting their own coins.
What stands out is that spouses are covered by the rule, but children are not. That point is politically sensitive, especially because Eric Trump and Donald Trump Jr. are involved in World Liberty Financial, the family crypto company behind the USD1 stablecoin. According to a Senate summary, licensing deals, blind trusts, and paid appearances at crypto events would also remain allowed.
What Is at Stake on Tuesday
Tuesday's vote is cloture, so it is not yet final approval of the bill. Sixty votes are needed to open debate, while Republicans hold 53 seats. That means seven Democrats have to join in, and they have been saying for months that they will not agree as long as children are left out of the ethics provision.
Politico reported Friday, based on two anonymous sources, that the meeting took place at the White House. The administration has not said anything about it. Lummis said earlier that the new version of the bill includes more than 100 changes, but also that the procedural vote still has to decide the outcome. Patrick Witt, Trump's crypto adviser, called it a good day afterward for people who are less bearish on the CLARITY Act, but he did not explain what exactly had changed.
Why This Matters
For European crypto readers, this shows how closely regulation and politics are tied together in the United States. The CLARITY Act is not just about oversight, but also about how far rules should go when it comes to conflicts of interest among public officials. Because of that, the outcome could also matter outside the US for parties dealing with American rules, stablecoins, or DeFi structures.
