White House Agrees on CLARITY Act Ethics Language, Clearing a Path Toward Senate Action

CoinDesk reports the White House has reached agreement on the ethics provisions in the CLARITY Act and has sent proposed language to Senate Republicans, a step that could remove a major hurdle ahead of a Senate vote. Democrats have previously pressed for tighter rules around government officials' cryptocurrency holdings, including concerns about officials promoting digital assets through their roles or profiting from them. The specific terms of the new ethics agreement have not been made public. According to the report, Democratic negotiators have also sought to add stronger consumer protections, measures targeting illicit finance, safeguards aimed at preventing failures akin to those seen in FTX, insider-trading protections, and expanded disclosure requirements. Timing remains central. With Congress approaching its August recess, the Senate has a narrow window to move the legislation through the process. Market observers cited in the report said the agreement could set the stage for a revised bill text and an eventual full Senate vote, with the next key variable being whether Senate Majority Leader John Thune schedules floor time. Separately, the report said Digital Assets Policy Advisor Patrick Witt will remain in his post after mandatory military training with the Georgia Army National Guard was postponed, allowing him to continue supporting the CLARITY Act effort. David Sacks also confirmed Witt will stay engaged, underscoring that advancing digital-asset legislation remains a priority in the administration's current crypto policy agenda. The report added that U.S. lawmakers are facing intensifying global competition as other regions advance digital-asset regulatory frameworks. Large financial institutions are continuing to build out crypto teams and infrastructure, and markets are watching whether institutional participation accelerates further once U.S. rules become clearer.