Republican Senator Cynthia Lummis praised President Donald Trump for agreeing to the toughest ethics restrictions ever implemented to get the Clarity Act passed. This bill, which aims to formally divide oversight between regulators by distinguishing digital assets as securities, commodities, or stablecoins, will face a vote on Tuesday. Lummis highlighted that Trump agreed to laws allowing state attorneys general to sue to enforce conflict-of-interest rules on federal officials. The legislation has been stalled this year due to conflicts between the banking lobby and crypto companies over stablecoin yield payments. Some Democratic voices have nonetheless criticized the Trump family’s profits from digital asset ventures, notably the $TRUMP memecoin.
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