The CLARITY Act, which failed to advance in the Senate on September 15, would have required senior federal officials and their spouses to sell or place into a blind trust equity interests exceeding $15,000 in businesses issuing or sponsoring digital assets, but adult children were excluded from this requirement. Trump’s latest certified financial disclosure shows more than $1.4 billion in 2025 income from crypto ventures, primarily connected to World Liberty Financial and his meme coin business. Commerce Secretary Howard Lutnick illustrates the issue by transferring his Cantor Fitzgerald ownership to trusts benefiting his adult children, creating legal separation while maintaining family economic exposure to the stablecoin and digital asset sector. The bill’s failure reflects competing judgments about how far ethics restrictions should extend to family members beyond the official and spouse.
Source: Read the original article
