🇺🇸 White House agrees to major crypto ethics rules in last-minute push to save the CLARITY Act
Senate Republicans just dropped a revised 635-page CLARITY Act text ahead of Tuesday’s critical cloture vote.
Key changes:
1. Trump-backed ethics rules — Bars the president and other federal officials (plus spouses) from issuing, sponsoring, or holding significant financial interests in digital assets. Requires divestment or placement in a qualified blind trust. State AGs get enforcement power.
2. Stablecoin “circuit breaker” — Gives the Treasury Secretary authority to restrict stablecoin rewards if community banks face widespread deposit flight.
3. BRCA protections narrowed — Removes language that explicitly shielded certain developers from criminal liability under 18 U.S.C. § 1960. Civil safe harbors remain.
4. Tighter conflict rules — New restrictions on affiliate trading and conflicts of interest for digital commodity exchanges, brokers, and dealers.
#avax #BCH #TAO #BitcoinHoldsAbove$77000 #TrendingTopic
Senate Republicans just dropped a revised 635-page CLARITY Act text ahead of Tuesday’s critical cloture vote.
Key changes:
1. Trump-backed ethics rules — Bars the president and other federal officials (plus spouses) from issuing, sponsoring, or holding significant financial interests in digital assets. Requires divestment or placement in a qualified blind trust. State AGs get enforcement power.
2. Stablecoin “circuit breaker” — Gives the Treasury Secretary authority to restrict stablecoin rewards if community banks face widespread deposit flight.
3. BRCA protections narrowed — Removes language that explicitly shielded certain developers from criminal liability under 18 U.S.C. § 1960. Civil safe harbors remain.
4. Tighter conflict rules — New restrictions on affiliate trading and conflicts of interest for digital commodity exchanges, brokers, and dealers.
#avax #BCH #TAO #BitcoinHoldsAbove$77000 #TrendingTopic
