US officials barred until 2029 from issuing or sponsoring tokens under CLARITY’s proposed ethics rules

According to Senator Cynthia Lummis, one of the bill’s advocates, the ethics language would apply to US presidents’ crypto ventures, including Donald Trump’s.

Senate Republicans have released the proposed text for the Digital Asset Market Clarity (CLARITY) Act, including language on ethics that would bar all US federal officials — including President Donald Trump — from issuing or sponsoring any digital asset.

In the 616-page text of the CLARITY Act made public on Wednesday, US lawmakers included language that the White House described as the “most comprehensive and wide-ranging ethics provision in history.“ The bill said all public officials, employees and their spouses would be barred from issuing or sponsoring digital assets and crypto platforms would similarly be blocked from listing assets issued or sponsored by federal officials.

Text of CLARITY Act released on Wednesday. Source: Cynthia Lummis

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