The U.S. “Clarity Act” enters the final sprint: Trump’s conflict of interest remains the key obstacle

PANews July 17 news: According to The Block, the U.S. Congress is in the final sprint on the Clarity Act. Lawmakers’ optimism is rising, but ethical provisions concerning conflicts of interest involving Trump remain the biggest obstacle. William Timmons, a Republican U.S. Representative from South Carolina, said, “This is one of the president’s top priorities, and it’s a bipartisan issue for Congress,” adding, “We will get it done. There may be some twists and turns, but we will definitely get it done.” Senate Majority Leader John Thune hopes to bring the bill to a full Senate vote before the August recess. An updated version of the text is expected to be released this week. However, if the Senate passes it, the bill would still need to return to the House, and the time window is tight.

On the ethical provisions, negotiators from both parties have been discussing for months limits on senior officials—such as the president, vice president, and members of Congress—profiting from digital assets while in office. On Thursday afternoon, President Trump, Senators Bernie Moreno and Cynthia Lummis, White House crypto adviser Patrick Witt, and White House Chief of Staff Susie Wiles will hold a meeting to seek Trump’s support on the issue. But Politico reported that the current text does not have support from Democrats. Senator Ruben Gallego said, “Without strong ethics provisions, there won’t be Democratic votes.” Summer Mersinger, CEO of the Blockchain Association, called the ethics issue a “crucial component.” Democratic offices hold a firm position on this, but they remain optimistic the bill will pass. The Gaming Association is pushing to incorporate rules for sports betting in prediction markets into the bill, but it could become a disruptive amendment.