Trump Yet To Back Bipartisan Ethics Proposal as CLARITY Act Nears August 7 Recess Deadline

U.S. President Donald Trump has yet to sign off on the CLARITY Act, even as the crypto bill faces a race against time with the Senate set to go on recess by the end of this week. Optimism also continues to fade, with the odds of the president signing the bill into law this year falling below 30% again.

Trump Yet To Sign Off On CLARITY Act Bipartisan Ethics Proposal

In an X post, crypto journalist Eleanor Terrett, citing sources familiar with the matter, said that the White House has yet to respond to the bipartisan ethics counterproposal put forward by Senators Thom Tillis and Ruben Gallego. The senators sent a proposal that seeks to empower state attorneys general to sue the Department of Justice (DOJ) if it fails to enforce the ethics provision.

The ethics issue is currently one of the major obstacles to securing bipartisan support to pass the CLARITY Act. Democrats had opposed the earlier ethics provision that the White House signed off on, which empowers solely the DOJ to enforce the ethics rules.

As CoinGape reported, the CLARITY Act is eyeing a Friday vote just before the August recess. However, Senate Majority Leader John Thune has yet to file a motion for cloture on the crypto bill. Based on the Senate proceedings, a final vote on the bill is unlikely to hold until Friday at the earliest.

Odds Of Passage Fall Below 30% Again

Optimism over the CLARITY Act passing this year continues to fade. Data from the top crypto prediction market platform Polymarket shows that the odds of President Trump signing the crypto bill into law this year have fallen below 30% again, currently at 27%.

Besides the ethics issue, it is worth noting that some prosecutors and law enforcement groups continue to push back against the BRCA provision in the crypto bill, arguing that it will make it harder to crack down on illicit finance. As CoinGape reported, the CLARITY Act drew further law enforcement opposition from the National Sheriffs’ Association, which raised fresh concerns about the DeFi provision.

However, U.S. Treasury Secretary Scott Bessent already pushed back against these criticisms, noting that non-custodial builders and developers are not, and have never been, subject to registration obligations under the Bank Secrecy Act. He explained that the crypto bill simply codifies the Department’s long-standing policy.