Trump Agrees to Ethics Provision, Removing Final Hurdle for Comprehensive Crypto Legislation

The Block reported that U.S. President Donald Trump has agreed to ethics language, potentially moving cryptocurrency legislation closer to passage. An industry source said an agreement on the ethics provision was reached after months of negotiations.The provision was discussed during a July 16 meeting between Trump, Republican Senators Bernie Moreno and Cynthia Lummis, and White House crypto adviser Patrick Witt. The measure received the president's sign-off on Monday.Ethics has been the final hurdle for broad crypto legislation. The Clarity Act would comprehensively regulate the digital asset industry at the federal level, giving jurisdiction to the SEC and more broadly to the CFTC.Negotiations have focused on limiting how presidents, vice presidents, members of Congress and other federal officials can profit from digital assets while in office. Trump's memecoins and his family's company World Liberty Financial have been at the center of the dispute. Financial disclosures last month showed Trump received millions related to WLF.Bill text is expected in the coming days, with one source saying it could come as early as Monday night. The Senate has until the first week of August to vote. If passed, the bill returns to the House before reaching Trump's desk.White House crypto adviser Patrick Witt had planned to leave for National Guard training this week, but said on X it was postponed. Deputy director Harry Jung announced he would depart in two weeks, saying the past two years transformed America's position on crypto.