Ethics has been the last major obstacle to the Clarity Act, which would create the first comprehensive federal framework for digital assets and split oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The dispute has centered on the extent to which political figures and other officials can profit from crypto while in office, a question sharpened by Trump’s memecoins and his family’s stake in World Liberty Financial, which financial disclosures last month showed earned him millions.

The provision was discussed at a July 16 meeting between Trump, Republican Senators Bernie Moreno and Cynthia Lummis, and White House crypto adviser Patrick Witt. The Senate has until early…