CLARITY Act Stalls Amidst Ethics Provision and Stablecoin Disputes

The fate of the CLARITY Act hangs in the balance as negotiations continue over key provisions.

Senator Kristen Gillibrand highlighted the ethics provision as a crucial component for the bill's passage, citing its potential to curb President Trump's crypto businesses. The provision aims to prohibit senior elected officials and their families from being actively involved in crypto activities.

Despite falling outside of the Senate Banking Committee's jurisdiction, Democrats on the committee have signaled they are unlikely to vote to advance the bill without a deal on including the ethics provision.