After Trump's $2.3B Crypto Boom, GOP Adds Ethics Limits To CLARITY Act - American Bitcoin (NASDAQ:ABTC),

After what the article describes as a $2.3 billion crypto windfall tied to the Trump family, Senate Republicans released an updated version of the CLARITY Act, adding new ethics provisions while leaving much of the core crypto policy “largely unchanged.” The “Ethics Requirements” draft was released by Senator Cynthia Lummis in an X post on July 22. Coverage from Eleanor Terrett says lawmakers are racing to advance crypto market-structure legislation before Congress’ August recess. One major change is a new ethics package negotiated between the White House and Lummis (R-Wyo.), along with Bernie Moreno (R-Ohio.). The draft’s timing is notable because Democrats have not signed off and are expected to push for changes, including objections to giving the DOJ sole enforcement authority without involving state attorneys general. The proposal also adds a section to strengthen law enforcement against crypto-related crime and outlines treatment of digital assets during bankruptcy of a cryptocurrency exchange or custodian, aiming to keep customer assets as customer property rather than part of an estate, to avoid a repeat of FTX’s collapse.