CLARITY Act prospects dim as ethics deadlock hits the White House

SkyBridge Capital founder Anthony Scaramucci remains optimistic that President Donald Trump will endorse the revised ethics framework, which was recently brokered by Republican Senator Thom Tillis and Democrat Ruben Gallego. The proposal reportedly seeks to break the legislative impasse by granting state attorneys general enforcement powers over federal officials’ crypto activities—a concession designed to win over skeptical Democrats. Despite Scaramucci’s public confidence, neither the White House nor the President has confirmed a formal agreement.

Legislative hurdles extend far beyond the ethics debate. Lawmakers remain split on the division of regulatory oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, as well as specific protections for blockchain developers. While Senate Majority Leader John Thune has kept a placeholder on the schedule for the bill, a crowded calendar—filled with government funding talks and foreign policy sanctions—leaves the timeline for a floor vote uncertain. Industry leaders, including Digital Currency Group and Treasury Secretary Scott Bessent, have urged immediate action, warning that regulatory gridlock continues to push investment and jobs out of the United States. Senator Cynthia Lummis maintains that Thune intends to move forward before the August break, but the cooling market sentiment reflects a growing consensus that final passage may slip into the post-recess period.