#特朗普同意Clarity法案纳入伦理条款 The legislative process for the U.S. “Digital Asset Market Structure Act” (the “Clarity Act”) has entered a critical turning point. President Trump has agreed to incorporate the controversial ethics provisions in the bill into the legislation. This concession breaks the months-long deadlock and clears the biggest obstacle for the bill to pass in the Senate.

The central focus of this drawn-out standoff is how to constrain federal public officials, including the president, to prevent them from profiting from crypto assets while in office. Trump’s own massive crypto holdings—especially his family’s World Liberty Financial project—makes the issue extremely sensitive. Financial reports disclosed last month show that Trump earned millions of dollars in gains from WLF.

📜 Core content of the ethics provisions

Based on the disclosed information, the core content of the ethics provisions includes:

· Ban issuing tokens: clearly prohibits all federal officials (including the president, vice president, and members of Congress) from issuing or providing digital assets.
· Enforcement authority: to be carried out by the U.S. Department of Justice (DOJ), not by the attorneys general of the states.

⚖️ Multi-party contest: from stalemate to compromise

This battle went through a complex process from stalemate to compromise:

· Democrats insist: from the bill’s early discussion stage, they made it a condition for support.
· Internal White House wrangling: a July 16 meeting failed to reach agreement, and Trump worried the provisions could “harm” him in the future.
· Key turning point: On Monday, July 20, the White House finally reached an agreement with Republican senators. Trump gave the nod and agreed. However, it is worth noting that Democrats said they were excluded from the final negotiations and have not yet reviewed the bill text.

· Outlook for the bill: The bill aims to establish the United States’ first comprehensive regulatory framework for crypto assets. With the biggest obstacle removed, the Senate is expected to vote before the first week of August recess. If it passes, it will be sent back to the House for further review, and ultimately signed by the president. Current forecasts show that the probability of passage within the year has risen to around 30%.
· Market reaction: After the news broke, the market reacted positively. Bitcoin’s price briefly climbed to about $66,400, with a 2.6% gain on the day; shares of compliant platforms such as Coinbase also rose by about 4%.
· Far-reaching significance: This means the U.S. will, for the first time at the federal level, establish clear rules for the crypto industry. Trump’s agreement resolves the immediate biggest obstacle, but Democrats’ final stance, how enforcement details are defined, and whether the bill can complete the process during a tense session remain key unresolved questions.