It was reported on July 17 that Democratic senators had reservations about the ethics issues and President Donald Trump’s involvement in them Crypto projects It was among the obstacles facing the Clarity Act.
On Monday (July 20), it was reported that with the Senate’s August recess approaching and the 2026 midterm calendar beginning to compress for legislative time, the… Crypto market structure draft He was in danger of stalling.
When the amended bill was announced in aa wednesday mail On Day
And on another Wednesday mail In X, Loomis said the revised Clarity Act prohibits all federal officials, including the president, from issuing or sponsoring digital assets.
“History will remember this moment as the moment the president chose a higher moral standard than the law required of him,” Loomis said in the post. “This agreement prohibits all federal officials — including the President — from issuing or custodial digital assets for profit, with real enforcement and real penalties. Thank you (President Donald Trump). Let’s pass the Clarity Act now!”
responsible account Republican staff on the Senate Banking Committee noted Lummis’ release of the comprehensive market structure legislation on Wednesday mail On
Coinbase CEO Brian Armstrong He said on Wednesday mail On the X that the Clarity Act is ready for a full Senate vote and that it represents a bipartisan compromise reached after thousands of hours of work on both sides.
Armstrong said the bill provides a federal framework for cryptocurrencies that includes strong consumer protections, law enforcement tools, and a path for America to lead the cryptocurrency industry.
“I think we, with our best wishes, have a good chance in the next few weeks to get this bill to the floor of the full Senate,” Armstrong said in a video included in the post.
