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EsBitcoin rises after Trump clears ethics deal for Clarity Act
Trump approved ethics language for the Clarity Act, opening the door to a possible Senate vote this week. Bitcoin rose 2.6% to about $66,400 after the agreement.
President Donald Trump agreed Monday night to ethics language for the Clarity Act, removing a key obstacle for the digital-asset market structure bill and positioning the Senate for a potential vote this week. Bitcoin traded near $66,400 early Tuesday, up about 2.6% over the past 24 hours.
People involved in the discussions described months of negotiations between the White House and Senate Republicans. The ethics language applies to the president. Senate leaders are preparing to release bill text in the coming days, which could allow a floor vote before the August recess.
Sens. Cynthia Lummis of Wyoming and Bernie Moreno of Ohio led the talks with White House officials. “The Department of Justice will enforce the ethics provisions, rather than state attorneys general,” Moreno told reporters. The full set of provisions was not publicly available Tuesday, and Senate Democrats had not yet reviewed the final language.
A preview of the ethics language was circulated to select Republican senators Monday afternoon. The agreement followed a Thursday meeting at the White House where Trump reviewed the ethics plan and the broader Clarity Act with Lummis, Moreno, White House crypto advisor Patrick Witt, Chief of Staff Susie Wiles and Solana Policy Institute President Kristin Smith.
Lummis last week projected that the Clarity Act could reach the Senate floor this week. Remaining points under discussion include anti-money laundering and know-your-customer reporting standards, along with how enforcement would be handled. Republican lawmakers are pushing to complete work on the bill before the August break and ahead of the midterm calendar.
Witt, who serves in the Georgia Army National Guard, noted Monday that his scheduled training was deferred so “I will be able to see this effort through to the end.” If the Senate approves the measure, the House would need to pass it before the bill can be sent to Trump for signature.
Crypto markets strengthened following the reported progress in Washington. Bitcoin hovered near $66,400 early Tuesday, up 2.6% over 24 hours and back to mid-June levels. The token is down about 24% since the start of the year and remains below its October record near $126,200. Regulatory developments are among the factors traders monitor when deciding how to trade cryptocurrency during periods of heightened volatility.
Crypto-exposed equities advanced in early trading. Circle Internet Group gained about 4%. Coinbase rose roughly 4%, Bullish added under 2%, and MicroStrategy increased nearly 4%. Miners and infrastructure names were higher, with IREN and Hut 8 up more than 3%, and TeraWulf and CleanSpark advancing over 3%.
The Clarity Act is a market structure bill that would set rules for digital asset trading and oversight. Lawmakers have worked through jurisdiction, compliance requirements and how federal agencies would share enforcement duties. Adding ethics standards that cover the president was one of the remaining issues before scheduling a vote.
