The U.S. "Clarity Act" enters a critical stage in legislation, with ethical clauses becoming a major obstacle

According to The Block, the US "Clarity Act" crypto legislation is advancing into a critical stage. Congressman William Timmons stated that the legislation will definitely be completed, as it is one of the president’s top priorities and has bipartisan consensus. Senate Majority Leader John Thune hopes to complete a Senate vote before the recess on August 7, but the bill still needs to return to the House of Representatives for review. The main point of controversy is the ethical clause on how to limit federal officials—including the president, vice president, and members of Congress—from benefiting from digital assets while in office. Trump, Republican senators Bernie Moreno and Cynthia Lummis, and White House Chief of Staff Susie Wiles held a meeting Thursday afternoon regarding the ethical clause, seeking Trump’s endorsement. Democratic Senator Ruben Gallego stated that Democrats would not vote in favor if the ethical clause does not meet standards. Blockchain Association CEO Summer Mersinger holds a cautiously optimistic attitude toward the bill's prospects but warns that if the amendment regarding prediction markets is included, it would be a poison pill and should be handled through separate legislation.