Topline
Republicans released a new draft of the Clarity Act on Wednesday including an ethics clause banning public officials from issuing or sponsoring cryptocurrencies, but critics are already pointing out ways the language could be insufficient at stopping President Donald Trump from profiting through crypto deals.
Trump made an estimated $1.4 billion from crypto last year, according to ethics disclosures.
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Key Facts
A new draft of the 600-plus page Clarity Act, obtained by multiple outlets, would enforce new ethics rules on public officials around cryptocurrency—in particular, banning officials, as well as their spouses or employees, from issuing or sponsoring any “digital asset” while they are serving in the role.
