Republicans plan to release an updated version of the CLARITY Act after meeting with Trump; however, Senate Democrats are not participating in the meeting and have already stated they will not support this version of the bill.
The main issue is the ethical provisions regarding Trump’s conflict of interest with the crypto industry. Senator Ruben Gallego, a key Democratic negotiator, described the proposed wording as “very weak”: “They’re bringing the president a version of the text with their own ethical provisions, not what the Democrats have agreed on. As a result, we don’t have strong ethics. I don’t care what the president says— you won’t get the Democrats’ vote.”
Republican Bernie Moreno insists that the bill contains “the strongest ethical provisions ever adopted by Congress,” and his goal is to secure a vote before the August recess. Senator Cory Booker, who is working on the CFTC section, confirmed that negotiations are still ongoing: “I hope they don’t release anything until we’ve finished reaching an agreement. The only way to pass this law is through bipartisan cooperation.”
The chance of the bill passing in 2026 has dropped to 35%