As discussions continue in the US on the CLARITY Act, which aims to regulate the cryptocurrency market, it has been reported that close supporters of President Donald Trump are working hard to reach an agreement on ethical guidelines.
According to crypto journalist Eleanor Terrett, citing her sources, while the White House has begun contacting Republican Senator Thom Tillis and Democratic Senator Ruben Gallego regarding a bipartisan ethics regulation proposal, circles interested in crypto policy remain uncertain.
A source in the industry described the current situation as “a strange wait,” while Terrett reported that some of Trump’s closest supporters had been working intensely behind the scenes throughout the week to reach a compromise on ethical considerations.
The proposed ethics regulation is expected to include limitations on the financial interests of public officials and political figures in the cryptocurrency sector. However, there is no agreement yet on the final scope of the proposal and how it will be incorporated into the CLARITY Act text.
Meanwhile, the parties are continuing negotiations on other unresolved issues in the bill. The White House is reportedly leading the discussions, particularly regarding the Blockchain Regulatory Certainty Act (BRCA).
The White House is reportedly trying to persuade some federal law enforcement agencies and regulators who have reservations about BRCA. The regulation aims to clarify under what conditions individuals developing software or providing infrastructure services on decentralized blockchain networks will not be considered financial intermediaries.
*This is not investment advice.
