Senators Propose Ethics Crackdown and Crypto Kiosk Reforms in CLARITY Act Amendments

Bipartisan senators have introduced sweeping amendments to the pending CLARITY Act ahead of a critical markup session. The proposed changes target two key areas: government ethics and digital asset kiosk fraud prevention.

A contentious ethics provision, championed by Sen. Michael Bennet (D-CO), WOULD bar senior officials including the President and Congress members from certain cryptocurrency transactions. This amendment responds to growing concerns about political figures' crypto holdings, particularly following reports that former President Trump's ventures earned approximately $1.4 billion through entities like World Liberty Financial.

Simultaneously, lawmakers including Sen. Amy Klobuchar (D-MN) seek to combat fraudulent transactions at crypto kiosks. One proposal would delay implementation until at least four CFTC commissioners are confirmed, ensuring robust oversight.

The Senate Agricultural Committee will debate these measures next Tuesday, with the crypto industry watching closely as regulatory frameworks take shape.