CoinTelegraph
The White House has yet to respond to the bipartisan ethics counterproposal from Senators Thom Tillis and Ruben Gallego on the Clarity Act, leaving the bill's most contentious provision unresolved, according to journalist Eleanor Terrett.
The ethics clause sits at the centre of a months-long fight over the Digital Asset Market Clarity Act, the bill that would split regulatory authority over digital assets between the SEC and CFTC. Without a deal on ethics, the package cannot move to a floor vote, even though a substantive market-structure compromise had reportedly been reached.
Why it matters
The Clarity Act is the closest thing the US crypto industry has to a comprehensive market-structure framework. It would codify which tokens fall under securities law, set disclosure rules for exchanges, and clarify stablecoin oversight. Its progress has been treated by institutional market participants as a precondition for deeper US engagement. The ethics provision, widely understood to target conflicts of interest tied to presidential-family crypto ventures, has emerged as the bill's make-or-break clause rather than a side issue.
Market impact
Each week without White House engagement pushes back the timeline for a floor vote and dims the prospect of a 2026 signing window. The downstream effect is institutional caution. US-licensed venues and TradFi entrants continue to build infrastructure for a framework that has not yet been enacted, while the regulatory ambiguity the bill was designed to resolve remains in place.
Frequently asked questions
-
What is the Clarity Act?
The Digital Asset Market Clarity Act is US legislation that would split regulatory authority over digital assets between the SEC and CFTC, codifying which tokens fall under securities law and setting disclosure rules for crypto exchanges.
-
Why is the ethics provision the sticking point?
The ethics clause has emerged as the bill's make-or-break issue, widely understood to target conflicts of interest tied to presidential-family crypto ventures. Senators Tillis and Gallego submitted a counterproposal that the White House has yet to respond to.
-
Who are Senators Tillis and Gallego?
Senators Thom Tillis (R-NC) and Ruben Gallego (D-AZ) are the bipartisan pair behind the ethics counterproposal on the Clarity Act, journalist Eleanor Terrett reported.
-
What happens if the White House keeps delaying?
Each week without engagement pushes back the floor-vote timeline and dims the prospect of a 2026 signing window. US-licensed venues and TradFi entrants continue building infrastructure for a framework that has not yet been enacted.
-
Has the market-structure language been finalized?
A substantive market-structure compromise had reportedly been reached, but without a deal on ethics, the entire package cannot move to a floor vote.
Crypto News
Altcoin Daily
CryptoSlate
CoinDesk
WuBlockchain
WatcherGuru
TheBlock