Crypto legislation would greenlight Trump corruption

The crypto industry is desperate to pass the Clarity Act, which would legitimize and stabilize its business by providing it with a federal regulatory framework.

Critically, the Clarity Act assigns most regulatory responsibility to the Commodity Futures Trading Commission (CFTC), a small agency with a permissive approach to industry oversight, instead of the Securities and Exchange Commission (SEC), which has a much more rigorous approach to regulation and enforcement.

One of the primary beneficiaries of the Clarity Act would be President Trump himself. As president, Trump has expanded and promoted various cryptocurrency projects, including a special visit to the White House for the largest holders of his meme coin. Trump’s latest financial disclosure revealed he personally earned about $1.4 billion in 2025 from his family’s crypto ventures, including the meme coin and World Liberty Financial. (Retail investors in the same projects have lost billions.) A permanent, relatively permissive regulatory environment would likely make Trump’s holdings even more valuable.

Concerns about Trump using the legislation to further enrich himself have been the principal obstacle to the Clarity Act’s passage in the Senate. The bill needs at least 60 votes, requiring a minimum of seven Democrats, to clear the Senate. Democrats and Senator Thom Tillis (R-NC) have said they will oppose the bill unless it curbs Trump’s profiteering. A key procedural vote is expected to occur Tuesday.