Trump falls into the center of the Senate fight over the Clarity Act, a more than 600-page cryptocurrency package with ethics provisions aimed at President Donald Trump and other federal officials. Senate Republicans are pushing it toward a floor vote the week of July 20th, with the White House already signing off on the rules.
Trump’s income rose about 250% between 2024 and 2025, from just over $620 million to about $2.2 billion. Much of that increase is tied to holdings and ventures in crypto, and those ventures are run by Don Jr. and Eric.
Clarity Act ethics provisions
The package would bar federal officials from creating their own digital currency for profit and from promoting or endorsing crypto. It would also allow officials to own crypto, while requiring disclosure of crypto sales and setting a divestiture or blind trust requirement one year after enactment.
Cynthia Lummis, who chairs the Senate Digital Assets Subcommittee, said the goal is not to draft a bill around one person. “plan legislation around one person who holds one office for the next two years, but rather, over time, that will serve the House, the Senate, the judiciary, and the executive branch in a fair way.”
Elizabeth Warren’s objection
Elizabeth Warren said the proposal does not go far enough if it leaves room for Trump to profit from crypto. “Someone can call it an ethics provision, But if it doesn't stop the president from profiting off of crypto, and using it as a way to take bribes right out in public. Then it's not really any expedition.”
Warren’s criticism puts the dispute on a narrow question: whether the Clarity Act merely limits how federal officials trade and disclose digital assets, or whether it actually blocks the president from benefiting from them. Lummis said Trump agreed to choose between a blind trust and divesting his participation in digital assets and companies that derive revenue from digital assets.
Senate floor vote week
The next procedural step is a Senate floor vote on the Clarity Act the week of July 20th. Before the August recess, supporters want the bill moving because they say it is needed to encourage onshore business, while Democrats are pressing for tighter limits before they accept the ethics language.
That leaves the Senate with a practical decision: adopt the current guardrails, or rewrite them to satisfy Democrats who say Trump’s crypto income still sits outside the bill’s reach.
For readers tracking the legislation, the core issue is simple. The bill now pairs market rules with personal ethics rules, but the fight is over whether those rules are strong enough to change what Trump can keep earning from crypto.
