- President Donald Trump is scheduled to meet with senators Thursday to negotiate the unresolved ethics provision of the CLARITY Act, which targets senior officials’ personal crypto holdings.
- Trump’s disclosed $1 billion-plus in 2025 crypto income is the primary sticking point, with Democrats demanding limits on the president, vice president, and members of Congress.
- Senator Ruben Gallego, the lead Democratic negotiator on ethics, was reportedly not invited to the meeting, raising concerns among Democratic lawmakers.
- The Senate enters recess after the first week of August, and near-final bill language could leak this week as negotiations continue.
President Donald Trump is scheduled to meet with U.S. senators Thursday to resolve the ethics provision of the Digital Asset Market Clarity Act, according to reports from CoinDesk. The provision would cap senior officials’ personal crypto business interests, directly targeting Trump’s own ventures.
Trump disclosed earlier this month that his crypto ventures generated over $1 billion in income in 2025, a figure fueling Democratic opposition. The president has repeatedly urged Congress to pass the CLARITY Act but has never publicly stated whether he would sign legislation that restricts his own businesses.
Senator Ruben Gallego, the lead Democratic negotiator on ethics, was reportedly not invited to any events tied to the bill. In May, Gallego and Senator Angela Alsobrooks publicly stated they would not support the bill without an ethics clause.
A separate group of Democratic senators, including Chris Murphy, Chris Van Hollen, and Jeff Merkley, held a press conference Tuesday calling for opposition unless the bill severs Trump’s “corrupt” ties to the sector. The provision remains among the biggest hurdles to bringing the crypto market structure bill to a Senate floor vote.
The final draft of the pending Senate bill, originally scheduled for circulation this week, may be delayed as negotiations continue. The Senate will adjourn after the first week of August, shifting focus to November midterm elections.
Senate Majority Leader John Thune stated that regardless of whether the bill’s text is finalized this month, the chamber will push the bill into the legislative review process. Official Trump memecoin traded over $1, down over 2% in the last 24 hours, with retail sentiment remaining in the bullish zone.
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