Clarity Act Draft Blocks Trump From Crypto Ventures Until 2029
The latest draft of the Clarity Act restricts President Donald Trump and other officials from engaging in cryptocurrency while in office, but this ban expires on January 20, 2029. The provision, part of a broader bill aimed at formalizing cryptocurrency regulations in the U.S., raises ethical concerns, particularly given Trump's substantial crypto earnings, according to Decrypt.
The new draft of the Clarity Act makes significant strides in regulating cryptocurrency activities among U.S. officials. It prohibits the president, government officials, and their spouses from issuing or sponsoring digital assets during their time in office. However, this provision is set to expire on January 20, 2029, at the end of the current presidential term. Enforcement responsibilities fall to the Justice Department.
This ethics provision comes in light of controversies surrounding President Trump’s engagements with meme coins and his family's involvement in cryptocurrency through World Liberty Financial. This situation is particularly pertinent after reports indicated Trump earned over $1.2 billion from crypto ventures the previous year.
While the act aims to shield non-custodial developers from being classified as "money transmitters", it does allow public officials to invest in cryptocurrency. Notably, the restriction does not apply to the children of public officials, generating potential further scrutiny.
Supporters of the bill, like Digital Chamber CEO Cody Carbone, describe the draft as a critical step towards a Senate vote on the Clarity Act. The final version is anticipated to address various concerns, including the unregulated landscape that cryptocurrency has operated in, which could transform following its potential passage.
As the bill moves through the legislative process, stakeholders will be observing how the discussions around ethics and enforcement evolve, particularly in respect to Trump's financial interests in the crypto space.
Summary based on original reporting by Decrypt Staff at Decrypt, originally published Jul 22, 2026. SolanaWire does not republish source content.
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