The CLARITY Act is facing a major obstacle in the U.S. Senate, as Democrats refuse to support the bill without strict ethics provisions targeting crypto activities linked to the family of Donald J. Trump.
Democrats are pushing for safeguards around conflicts of interest and transparency, particularly amid reports that Trump-linked crypto ventures are valued at over $1 billion.
Meanwhile, Republicans need at least 7 Democratic votes to pass the bill, leaving its future uncertain amid ongoing political divisions.
With midterm elections approaching, the outcome of this legislation could play a critical role in shaping the entire U.S. crypto market structure.