White House agrees to ethics provisions in market structure bill

The White House has reached an agreement on ethics provisions in the Digital Asset Market Clarity (CLARITY) Act, a cryptocurrency market structure bill under consideration in the U.S. Senate. White House officials met with Republican Senators Cynthia Lummis and Bernie Moreno to iron out details related to ethics language, a key concern for some Democratic lawmakers. While Lummis and Moreno have not publicly disclosed specifics of the deal, the agreement is seen as a potential step toward securing Democratic support in what is expected to be a close Senate vote. The White House described the provisions as "the most comprehensive and wide-ranging ethics provision in history" and said it had made significant concessions to address Democrats' concerns.

The CLARITY Act passed the House of Representatives in July 2025 but has encountered delays in the Senate, partly due to ethics questions surrounding former President Donald Trump’s crypto investments and ties to the industry. Several Senate Democrats, including Elizabeth Warren and Jeff Merkley, have criticized the bill as insufficient without ethics reforms that address conflicts of interest related to Trump and his family's business connections. Trump recently urged the Senate to pass the bill “in honor of” the late Senator Lindsey Graham, a supporter of the legislation. Despite industry and bipartisan backing, it is unclear whether the bill will achieve the 60-vote threshold needed to clear the Senate.

Coinbase vice chair Ryan VanGrack indicated that Democrats have influenced the inclusion of customer protection provisions in the Senate version. However, some lawmakers continue to call for hearings into Trump’s crypto investments before any vote takes place. At the time of reporting, no vote date was set, and the Senate bill text had not been released publicly.

Amid these developments, Bitcoin’s price rose above $66,000, reaching a seven-week high. Market observers attributed this uptick largely to optimism around the potential passage of the CLARITY Act. Michaël van de Poppe, a crypto fund manager, highlighted that the prospect of the bill’s approval was the primary driver behind the price increase. The CLARITY Act remains a closely watched legislative effort that could significantly shape U.S. crypto market regulation and industry protections.