ME News reports that on July 2 (UTC+8), the latest publicly released 927-page financial disclosure document of U.S. President Trump shows that his income includes hundreds of millions of dollars in crypto-related gains, including millions of dollars in revenue related to the Trump family's 2024 DeFi project, World Liberty Financial. This disclosure has made congressional negotiations over the ethical clauses of the Clarity Act, a crypto market structure bill, more urgent. Currently, bipartisan lawmakers are negotiating the Clarity Act, which aims to establish the first comprehensive federal crypto regulatory framework in the United States. One of the key points of negotiation is whether to include ethical restrictions to prevent the President, Vice President, members of Congress, and other federal officials from profiting from digital assets while in office. Democratic lawmakers have reiterated after the document’s release that the bill must include strict ethical clauses. Senator Angela Alsobrooks stated that the restrictions should apply to the President, Vice President, and all members of Congress, and that ordinary Americans should benefit from digital assets in a fair and honest manner, rather than allowing politicians to profit through corruption and loopholes in the system. Senator Kirsten Gillibrand also said that both parties are still pushing for strict ethical reforms, aiming to prohibit the President, Vice President, and lawmakers from using crypto assets for personal gain. Elizabeth Warren said that if the Clarity Act cannot prevent the President, members of Congress, and their families from profiting from the crypto industry, the bill will further fuel the controversy over Trump-related crypto corruption. Republicans, on the other hand, stated that ethical clauses remain part of bipartisan negotiations. With the window for advancing the Clarity Act in July approaching, the disclosure of the Trump family's crypto income may become a key variable affecting the final text of the bill and Democratic support. (Source: ODAILY)

WLFI-1.22%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

Reward
like
Comment
Repost
Share

Comment

Add a comment

No comments

Trending Topics
View More
#
GateStocksTransferLive
528.41K Popularity
#
CirclePlunges17%
6.51M Popularity
#
PredictWorldCup🇵🇹vs🇭🇷
159.13K Popularity
#
GateCardPointsSystemLaunched
117.21K Popularity
#
NFPCountdown
899.82K Popularity

Pinned

Sitemap

Trump's financial disclosures intensify ethical controversy over crypto bill, Democrats demand inclusion of restrictive clauses

Trending Topics

GateStocksTransferLive

CirclePlunges17%

PredictWorldCup🇵🇹vs🇭🇷

GateCardPointsSystemLaunched

NFPCountdown

Pinned