Analyst: Trump family's crypto ties threaten market structure bill

Ethical questions surrounding the crypto business dealings of U.S. President Donald Trump's family have become a major hurdle for the CLARITY Act, a key crypto market structure bill. According to Decrypt, Caitlin Long, CEO of Wyoming-based crypto bank Custodia Bank, stated that Trump-related meme coins and ventures like World Liberty Financial are making it difficult to secure bipartisan support for the legislation. She explained that the bill needs seven Democratic votes to pass, noting that Senator Elizabeth Warren is a particularly strong opponent of the Trump family's crypto activities. Long suggested that if the bill fails, the Trump family would share in the responsibility. However, she also pointed out that a bipartisan foundation for legislation still exists, citing the ongoing collaboration between Senators Cynthia Lummis and Kirsten Gillibrand.