After Months of Deadlock, Trump Backs Crypto Bill's Ethics Provision
President Donald Trump has agreed to an ethics provision for the Clarity Act, according to reporting, after months of dispute over his crypto holdings. The move could clear a path for a full Senate vote by early August 2026.
Trump reportedly agrees to crypto ethics language
According to reporting from The Block and journalist Eleanor Terrett, President Donald Trump agreed to an ethics provision for the Clarity Act. The reported agreement followed months of negotiation led by White House crypto adviser Patrick Witt. Republican Senators Bernie Moreno and Cynthia Lummis took part in the talks. Reporters said the White House began sharing the ethics language with Republican senators, and that full bill text could be released within days. The development eased a standoff that had blocked the legislation for months.
The Clarity Act would split federal oversight
The Clarity Act would create the first comprehensive federal framework for digital assets in the United States. It assigns oversight to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The two-agency split determines which regulator supervises specific tokens and trading platforms. Lawmakers have treated the bill as the country's central crypto market structure legislation.
Ethics rules target officials' crypto profits
The ethics provision aims to restrict how presidents, vice presidents, members of Congress, and other federal officials profit from digital assets while in office. The dispute centered on Trump's memecoins and his family firm, World Liberty Financial, which disclosures showed generated millions of dollars for the president. Some Democrats made a strong conflict-of-interest rule a condition of their support. The issue stalled the bill for months and drew public opposition from several senators.
Disclosure showed $1.4 billion in crypto income
A financial disclosure released by the Office of Government Ethics on July 1 showed Trump earned about $1.4 billion in crypto-related income during 2025. Roughly $635 million of that came from licensing the $TRUMP memecoin, according to the filing. World Liberty Financial generated millions more. The disclosure sharpened Democratic demands for guardrails on how officials profit from crypto while serving in office.
The TRUMP token trades far below its peak
The OFFICIAL TRUMP (TRUMP) token traded at $1.60 on 21 July 2026, with a market cap near $379 million (CoinPaprika, 21 July 2026). The price sits about 98% below its January 2025 all-time high of $75.27. According to a Nansen report cited by Fortune, traders have lost more than $3.8 billion on the token since its launch in January 2025.
A Senate vote could come in early August
Senate leaders are pushing for a floor vote by early August 2026. Passage requires 60 votes to overcome a filibuster, and Republicans hold 53 seats. The bill therefore needs Democratic support to advance. Majority Leader John Thune has said he will move ahead with a vote regardless of the final ethics text. If the Senate passes it, the measure returns to the House before reaching Trump's desk. On the prediction market Polymarket, the odds of the bill becoming law in 2026 sat near 31%.
Harry Jung, a deputy director departing the White House Crypto Council, reflected on the administration's crypto agenda as the vote approached.
"Serving in POTUS administration and working for David Sacks in the White House Crypto Council has been a great honor. These past two years transformed America's position on crypto.", 20 July 2026. — Harry Jung, Deputy Director, White House Crypto Council
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