White House rejects inserting conflict-of-interest guardrails into CLARITY Act

The White House has revealed its intention to reject a provision in the U.S. crypto market structure legislation known as the CLARITY Act, according to Unchained, citing sources familiar with the matter. The provision seeks to address conflicts of interest regarding crypto businesses that occurred during the tenure of senior political figures such as President Donald Trump. In recent days, Republicans and Democrats in the House of Representatives have been in talks to insert conflict-of-interest guardrails into the bill, with a primary focus on tackling Democratic concerns over Trump's use of crypto for profiteering. However, it has been finally vetoed by the White House.