Moral clauses in exchange for votes? Trump was revealed to be considering compromises, and the cryptocurrency “Clarity Act” ushered in a critical battle in the Senate
The Zhitong Finance App learned that according to two people familiar with the matter, US President Trump met with advisors last Friday to discuss moral restrictions that may be added to a comprehensive cryptocurrency bill. The bill faces a critical vote in the Senate next week.
This closed-door discussion focused on the wording of the Digital Asset Market Clarity Act (CLARITY Act) currently under review. The advisors involved in the discussions and Trump's response to the proposal were not disclosed.
The Senate is expected to hold a procedural vote on Tuesday. The bill needs to get enough votes to pass this hurdle before legislators can debate or push forward the amendments to final passage.
Democrats are pushing to include provisions that restrict senior government officials from issuing, promoting, or profiting from digital assets during their tenure. These requirements are in part intended to respond to concerns about the Trump family's potential conflict of interest in the cryptocurrency business.
Patrick Witt, a senior White House cryptocurrency adviser, posted on the X platform last Saturday, expressing optimism about the negotiations, implying that pessimism about the bill's prospects may not be appropriate.
The vote could be an important catalyst for Bitcoin, Ether, and other digital assets and crypto-related stocks. The Clarity Act aims to more clearly delineate the regulatory boundaries between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and establish federal rules for exchanges, token issuers, and decentralized finance platforms. Increased regulatory certainty is expected to attract institutional capital and benefit Coinbase (COIN.US) and other trading, escrow, and blockchain infrastructure providers.
However, if the procedural vote fails, it will prolong uncertainty and may cause short-term fluctuations in the cryptocurrency market. The morality clause may determine whether Democrats provide the votes needed to advance the legislation, making Trump's position closely linked to the bill's immediate future.
The report said that the industry believes that the current National Assembly window is particularly important because the political landscape may change after the November election.
Proposals being prepared by the Senate will also address stablecoin incentives, anti-money laundering requirements, decentralized finance, and regulatory treatment of tokenized securities. Even if the bill's passage is widely viewed as a step towards regulatory clarity, these details may have different impacts on different areas of the industry.