It is no secret that the Trump family has made massive personal gains with their cryptocurrency ventures in the last year. Now the First Family’s crypto dealings have been brought into question in regards to the Clarity Act. Several Democrats, and also Senator Thom Tillis, a Republican from North Carolina, are asking for the addition ethics language in the bill. The lawmakers aim to add a provision to restrict how executive branch officials use digital assets. According to Sen. Ruben Gallego, “There is no final bill — there is no final movement — unless there is a bipartisan agreement when it comes to the ethics provision.” Trump’s crypto empire may get in the way of his Clarity Act. Let’s discuss.
Will The Clarity Bill Stall Due To The Trump Family’s Crypto Empire?
The Trump family’s crypto dealings have generated more than $1 billion in personal wealth. Many democrats have called out the First Family’s crypto ventures and the upcoming regulations. Senator Tillis stated that, “There has to be ethics language in the bill before it leaves the Senate, or I’ll go from one of the people working on negotiating it to voting against it.“
The disagreements among lawmakers is not the only things nagging at Trump’s crypto empire. Recently, TRON (TRX) founder Justin Sun filed a lawsuit against the Trump family’s World Liberty Financial crypto company. According to the lawsuit, World Liberty Financial froze Sun’s WLFI tokens and stripped his right to vote on governance issues. According to Sun, the value of the WLFI tokens are close to $1 billion.
Also Read: Is the Stock Market Really “Up Like a Rocket” In Trump 2.0?
Making the cryptocurrency industry thrive was one of President Trump’s many promises during his Presidential campaign. Although he has pushed for multiple pro-crypto legislations, his family’s crypto dealings have sparked numerous questions.