Trump introduces ethical amendments to the CLARITY Act: what does this mean for the crypto market?
The administration of US President Donald Trump has made concessions by agreeing to include ethical standards in the controversial CLARITY Act bill. This decision came as a result of pressure from Democrats and the public, who are concerned about potential conflicts of interest surrounding digital assets.
According to data obtained from insiders in the White House, a package of ethical provisions has already been agreed upon and submitted for review to a number of Republican senators. Details remain classified for now, but it is known that active discussions took place during Trump's meeting with key figures, including Senators Cynthia Lummis, Bernie Moreno, and cryptocurrency advisor Patrick Witt. Notably, representatives of the Democratic Party were not invited to this discussion.
Pressure from Democrats and the demand for transparency
To recall, on July 14, Democratic Senators Chris Murphy, Jeff Merkley, and Chris Van Hollen sharply criticized the current version of the CLARITY Act. Their main demand is to prohibit the president, members of Congress, senior officials, and their families from directly profiting from the crypto business. This issue became particularly acute after it emerged that in 2025 alone, projects related to the crypto industry generated at least $1.4 billion in revenue for Trump. Despite this, the White House had previously categorically denied any conflict of interest.
Senator Elizabeth Warren also called on Trump to voluntarily and early disclose income from digital assets for 2026, without waiting for the mandatory report, which is only due in May next year. This step is seen as an attempt to enhance transparency amid growing distrust.
What's next for the CLARITY Act?
The bill itself, which has already passed the House of Representatives (294 votes in favor, 134 against) and received approval from the Senate Banking Committee (15 to 9), aims to delineate powers between the SEC and the CFTC in regulating the crypto market. However, the new version with ethical amendments has not yet been published. The key question now is whether the parties can finalize negotiations before the Senate's August recess, as the date for a plenary session has still not been set.
It is worth adding that, in parallel, US banking associations are demanding clarification of the CLARITY Act's provisions regarding stablecoin yields, fearing that current wording leaves loopholes for hidden interest payments.
My analysis: The inclusion of ethical standards is not just a concession to Democrats but a strategic move aimed at mitigating reputational risks before the final vote. However, without the publication of specific wording and control mechanisms, it is premature to talk about real transparency. For the market, this is a signal that the administration is ready for compromises, but the bill itself could be delayed due to new bureaucratic procedures.