Senators are trying again to nudge President Donald Trump to sign off on revised ethics language, which is being viewed as the main blocker in getting the sweeping Clarity Act cryptocurrency legislation passed into law.
A fresh compromise from Sens. Thom Tillis, R-N.C., and Ruben Gallego, D-Ariz., was sent to the White House on Thursday morning, a source familiar told The Block. The White House did not immediately respond to a request for comment. It is unclear what exactly is in that compromise.
Over the past year, Democrats have demanded stronger language to address Trump’s crypto interests, including a memecoin he launched before Inauguration Day and his family’s involvement in World Liberty Financial. Financial disclosures released last month revealed that Trump received millions of dollars tied to WLF.
The draft released last week, with Trump's sign-off, has language that bars public officials and their spouses from issuing or sponsoring digital assets but does not cover other family members. It also gives enforcement authority to the Justice Department and includes a sunset clause that would expire the restrictions in January 2029.
That sunset clause "kills the whole ethics provision entirely," a person familiar with Capitol Hill negotiations told The Block last week. The language says that as long as Trump is president, his attorney general would be in charge of enforcing the provision, and that would be current acting Attorney General Todd Blanche. Blanche was also previously Trump's personal attorney.
