White House, Senate in last-minute talks on CLARITY Act ethics rules

Senior White House officials are scheduled to meet with U.S. senators on July 16 to discuss contentious ethics provisions within the CLARITY Act, a comprehensive crypto market structure bill, CoinDesk reported. The release of a revised version of the bill, initially expected this week, has reportedly been delayed due to the ongoing negotiations. On July 14, several Democratic senators held a press conference, stating they would oppose the legislation unless concerns about potential conflicts of interest involving President Trump's cryptocurrency businesses are addressed. Industry observers believe that reaching an agreement on the ethics rules would significantly increase the bill's chances of passing the Senate. However, with the Senate scheduled to begin its summer recess after the first week of August, there are only a few weeks left to pass the bill this year.