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Clarity Act Mired In Debate Over Whether to Bar President From Selling Crypto

The New York Times • July 23, 2026 • business

Key Points:

The Clarity Act, a comprehensive cryptocurrency bill, is nearing a final Senate vote this summer with bipartisan support and significant backing from the crypto industry.
A major controversy centers on President Trump’s $1.4 billion crypto revenue, prompting Senate Democrats to push for strict provisions barring public officials from selling digital currencies.
The latest Republican draft includes restrictions preventing the president and other officials from issuing or sponsoring cryptocurrencies, but Democrats argue these measures are insufficient.
The ethics debate over Trump’s crypto dealings has become a critical factor in securing bipartisan support for the bill ahead of the midterm elections.
The crypto industry prioritizes the Clarity Act’s passage, especially as the Biden administration has taken a tougher regulatory stance compared to the more lenient approach under Trump.

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