Republican senators met with Trump about it last week. On Monday, the Republicans had reached an agreement. A White House official told CoinDesk on Monday that Trump had “accepted the most comprehensive and far-reaching ethics provision in history.”
The legislation would give regulators a year to implement the new ethics restrictions. It is not yet clear when such limits might be effective for Trump, nor is it clear what he would do about them in relation to his many crypto business ties, including a stake in World Liberty Financial.
Meanwhile, the bill’s most dedicated supporters, such as Sen. Cynthia Lummis, have defended Trump and the legislation.
“It’s time to land this plane,” Lummis, a Wyoming Republican who chairs the Senate Banking Committee’s digital assets subcommittee, said in a recent interview on Fox Business. “This is about helping law enforcement combat illicit financing, enacting consumer protections and keeping these markets ashore in the United States”
In 16 days (including weekends), the Senate is set to leave Washington for its long summer recess. With little time left in September, lawmakers will increasingly focus on November’s midterm elections. So the first week of August is commonly considered the last moment the Clarity Bill can move out of the Senate in the normal course of business.
