While discussions continue in the U.S. regarding the CLARITY Act aimed at regulating the cryptocurrency market, it is reported that close allies of President Donald Trump are making every effort to reach an agreement on ethical standards.
According to crypto journalist Eleanor Terrett, citing her sources, although the White House has begun contacting Republican Senator Tom Tillis and Democratic Senator Ruben Gallego regarding a bipartisan proposal on ethical standards regulation, uncertainty persists in circles interested in cryptocurrency policy.
An industry source described the current situation as "a strange waiting period," and Terrett reported that some of Trump's closest allies have been working intensively behind the scenes throughout the week to reach a compromise on ethical issues.
The proposed ethical standards are expected to include restrictions on the financial interests of government officials and political figures in the cryptocurrency sector. However, the final scope of the proposal and how it will be incorporated into the text of the CLARITY Act is still unclear.
Meanwhile, parties continue negotiations on other unresolved issues of the bill. It is reported that the White House is leading discussions, particularly concerning the Blockchain Regulatory Certainty Act (BRCA).
According to available information, the White House is trying to persuade some federal law enforcement and regulatory agencies that are wary of the BRCA. The goal of this regulation is to clarify under what conditions individuals developing software or providing infrastructure services in decentralized blockchain networks will not be considered financial intermediaries.
*This is not investment advice.
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