Senate's crypto bill now covers Trump's own coin

Congress has argued for over a year about how to regulate crypto in America. On Sunday, Senate Republicans released what they call their final text for the CLARITY Act. That's the bill meant to settle those rules. It includes new ethics restrictions on government officials who hold crypto, including President Trump. The Senate is scheduled to vote on it Tuesday.

The ethics fight held up this bill for months. Sen. Thom Tillis, a Republican, and Sen. Ruben Gallego, a Democrat, wrote the underlying rules. Officials would have to divest major crypto holdings, or place them in a blind trust. Trump agreed to roughly 80% of it, according to Republican aides. But Democrats and the watchdog group Transparency International say the final text still protects Trump specifically. It doesn't touch his existing ventures, like his memecoin and World Liberty Financial. Its ethics rules would also expire in January 2029.

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Will nine Senate Democrats vote yes anyway? Republicans need that many crossover votes Tuesday to beat a filibuster. Democrats remain split over whether the ethics carve-outs go far enough. If the cloture vote fails, the CLARITY Act stays stuck. So does any real rulebook for crypto exchanges.