$APE
Cooling DownSnapshot Window: 2026-07-18 03:10 UTC · ← Back to Crypto Overview
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UPDATE: The CLARITY ACT would prevent ANY ELECTED OFFICIAL from ISSUING or PROMOTING a digital asset. TURN NOTIFICATIONS ON! [Spoken audio]: Hey, Carl. Well, yeah, look, Senate leadership, they really want to have a vote on this rules of the road crypto bill in the next few weeks before they break for their August recess. Big question right now, whether they're going to be able to get enough democratic support to pass, and that is increasingly hinging on whether the bill is going to put in place some strict limits on the president's ability to profit from crypto. Now, Democrats, they've been pushing for this ethics language for months, but it's become even more pressing just in the last few weeks when President Trump's financial disclosers showed him making roughly $1.2 billion from crypto-related ventures alone during his first year in office. I spoke yesterday with Senator Mark Warner. He supports the goals of the broader bill, but he said that it is critical for lawmakers to limit the ability for elected officials, including the president, to profit from crypto. The president has made billions in his family off of this. We're going to suddenly go forward and say, you know, and elected officials can take advantage of that situation going forward. I think that would be pretty outrageous. Senator Bernie Moreno, who met with Trump yesterday on the bill, said it would prevent any elected official, including the president, from issuing or promoting a digital asset, although it would not apply that restriction to other members of the family, including, of course, Trump's family. The lawmakers are still negotiating over the language of the bill and updated draft was expected this week, but has yet to be made public. And of course, guys, as we know, the devil's always in the details, so we're keeping a close eye out for that to see how Democrats and industry respond and exactly what kind of vote we might expect later this month or in early August.
