Clarity Act Stalls on Ethics Rules Curbing Trump’s Business Interests

President Trump was expected to sit down with U.S. senators Thursday afternoon at the White House to try to resolve the ethics provision blocking the Digital Asset Market Clarity Act, an ethics provision that would restrict senior government officials, including the president, from holding personal crypto business interests while in office.

The meeting comes as the Senate faces a narrow window before its August recess. The current bill text does not include the ethics provision Democrats are seeking.

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What the Ethics Provision Would Cover

Democrats have demanded a provision covering the president, vice president, members of Congress, and potentially their spouses and children.

The White House has reportedly pushed for any restriction to be framed as a general officeholder rule rather than language that explicitly targets Trump.

Trump’s Crypto Exposure and the Ethics Fight

Trump disclosed he made more than $1 billion from crypto-related activity in 2025, primarily from the $TRUMP memecoin and World Liberty Financial. The disclosure directly inflamed the ethics fight.

Resolving the ethics provision is seen as the last major issue capable of derailing the bill’s momentum. The bill’s next steps would depend on whether leaders can incorporate ethics language acceptable to enough senators.

Senate Majority Leader John Thune has said he will press forward with a floor vote later in July, whether or not the final ethics language is set.

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What Happens Before the Clarity Act August Deadline

The Senate departs for summer recess in the first week of August, and midterm election politics are expected to dominate the calendar after that. A revised near-final version of the Clarity Act text was expected to circulate this week, but may slip as talks continue.

The open question is whether Trump will accept ethics language that materially restricts his own ongoing business interests. The White House meeting is an indication that negotiators are working toward a compromise, but the specific terms that emerge will determine whether enough Democrats back a floor vote.

The broader global push for crypto market structure frameworks adds context to how consequential U.S. action – or inaction – on the Clarity Act would be. A bill that resolves both the technical market-structure questions and the ethics conflict would set a baseline that other jurisdictions will reference. Stalling into the midterm cycle leaves that benchmark unset for at least another year.

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