SerpApi.Org
The White House has agreed to an ethics provision in a cryptocurrency regulation bill amid a final push to pass the legislation in the Senate.
The provision would bar all federal officials from offering or issuing digital assets, with the Department of Justice (DOJ) tasked with enforcing the measure, an industry source told The Hill following a meeting with White House crypto adviser Patrick Witt.
“The administration is committed to working with Congress to see the CLARITY Act advance and has agreed to the most comprehensive and wide-ranging ethics provision in history,” a White House official said in a statement to The Hill.
Democrats have long pushed for a provision in the bill that would restrict elected officials’ ability to profit from the crypto industry in the face of concerns about President Trump and his family’s various digital asset ventures.
This is one of the key remaining points of contention between Republicans and crypto-friendly Democrats on the legislation, which faces a crucial moment in the Senate ahead of August recess.
If lawmakers fail to pass the Clarity Act within the next three weeks, experts have suggested it is unlikely to cross the finish line before the midterm elections.
“If Senate Democrats block this historic legislation after the administration has bent over backward to accommodate their concerns, stakeholders should make no mistake: it is the Democrats who are blocking this legislation because they were never serious about a legislative outcome,” the White House official added.
Senate Majority Leader John Thune (R-S.D.) appeared uncertain about the legislation’s future when asked about it Tuesday morning.
“I think it’s going to depend on whether Democrats get to a place where they can deliver the votes for us to move on the bill,” he told reporters.
“We’re still working on that,” Thune continued. “I’ve been optimistic about it, been pessimistic about it, then optimistic about it. Today, I think there’s a good chance, knock on the wood, that they’ll strike something that could get the votes for it.”
Updated at 4:50 p.m. EST. The Hill’s Alex Bolton contributed to this report.
Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.For the latest news, weather, sports, and streaming video, head to The Hill.
