Trump Accepts Crypto Ethics Restrictions: Major Political Resistance to the U.S. Crypto Market Structure Bill (CLARITY Act) Eases The U.S. Senate Digital Assets Subcommittee has released an ethics clause for the CLARITY Act. According to the proposal, the President, Vice President, members of Congress, federal judges, and other federal employees, as well as their spouses, are prohibited from earning compensation through the issuance or sponsorship of digital assets (cryptocurrencies). Of course, these rules don’t restrict holding or trading crypto assets. Trump and other government officials can still hold bitcoin:native and ethereum:native, and they can also invest in the crypto market as usual. What’s restricted is using their public office to issue, sponsor, or promote digital assets (cryptocurrencies) for profit. If officials violate the rules, the Attorney General can file a civil lawsuit, requiring the profits to be surrendered, along with potential additional fines. Exchanges that knowingly list tokens in violation of the rules could face penalties of up to $250,000 per violation per day. For related interests that existed before the law takes effect, officials will have a certain amount of time to divest those assets. PS: This means that if the bill passes and takes effect, and ethereum:0xda5e1988097297dcdc1f90d4dfe7909e847cbef6, solana:6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN, and solana:USD1ttGY1N17NEEHLmELoaybftRBUSErhqYiQzvEmuB still belong to the Trump family, they could face delisting risks in the U.S. At that point, enforcement outside the U.S. would depend on the jurisdiction. These restrictions will expire on January 20, 2029, coinciding with the end of Trump’s current presidential term. So, this seems more like Trump voluntarily accepting restrictions on profiting from issuing or sponsoring tokens during his term to resolve the conflict-of-interest controversy surrounding the CLARITY Act, rather than the U.S. establishing a permanent ban on government officials participating in the crypto market. Currently, these ethics requirements have not yet become formal law. As of the last action date listed on the GovInfo page, H.R. 3633 has reached the report stage in the Senate but remains in the legislative process. For the overall crypto market, this is somewhat positive news. One of the biggest controversies surrounding the CLARITY Act was whether government officials could profit from tokens they’re connected to while setting crypto regulations. If this proposal gains enough support, the ethical concerns surrounding the CLARITY Act will diminish. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all-in-one trading platform.