Trump concedes on ethics rules as major US crypto bill nears vote

The bill that would finally tell American crypto companies which regulator governs them is moving again.

Republican senators released what they called the final text over the weekend, containing a revised ethics package that US President Donald Trump has agreed to after months of deadlock.

The CLARITY Act, formally the Digital Asset Market Clarity Act, would divide supervision of digital assets between the US Commodity Futures Trading Commission and the Securities and Exchange Commission, replacing a fragmented system in which classification has largely been settled through enforcement actions and litigation.

The House passed its version in July 2025 by 294 votes to 134, and the sticking point since then was Trump himself.

The US president's financial disclosures showed crypto-linked income of between $1.4 billion (€1.2bn) and $2.2 billion (€1.9bn), including the TRUMP memecoin and World Liberty Financial, a decentralised finance venture tied to his family.

Democrats wanted enforceable restrictions that the White House resisted until now.

Under the agreed text, federal officials and their spouses must divest significant crypto holdings or place them in a blind trust, and are barred from issuing or sponsoring digital assets while in office.