U.S. senators are understood to be mulling new proposals to strengthen Trump's concessions on the ClarityAct's cryptocurrency regulatory provisions

On July 30, according to people familiar with the matter involved in relevant work, whether the legislative wording drafted by U.S. Senators Tom Tillis and Ruben Gallego can be recognized by all parties may determine the prospects of the cryptocurrency market structure bill. Currently, the two senators have completed preliminary amendments to the bill's provisions that restrict government officials from having a direct interest in cryptocurrency projects. It is unclear who has seen the latest version, which was negotiated by senators from both parties. The two men have been trying to negotiate a ultimately acceptable compromise. However, the Digital Asset Market Clarity Act still needs to be approved by the White House and won the support of a large number of Democratic lawmakers before being submitted to the U.S. Senate for a vote. The ethics clause explicitly targets U.S. President Donald Trump's cryptocurrency business empire and aims to prohibit senior government officials from having a direct interest in the cryptocurrency industry. Trump recently agreed to accept a limited version of this concept, an attitude that surprised some people in the crypto industry. The White House said this was an unprecedented ethical restriction that directly restricted the president himself. However, Democratic opponents believe that the provision is designed in a way that allows Trump to meet the requirements without taking little, if necessary, action, and that because the Justice Department is led by loyal appointees, he does not have to worry about the rules being actually enforced. Republican Senator Tillis and Democratic Senator Gallego subsequently agreed to continue to bridge their differences. People familiar with the matter said that the two lawmakers had reached a new consensus on some issues, but did not disclose specific details. Crypto industry lobbyists are closely watching the outcome of the negotiations, as there is little left before the Senate enters its August recess. They believe that as long as negotiations on government conflict of interest provisions are completed, it is expected to provide impetus for advancing the rest of the bill. So far, neither the offices of the two senators nor the White House spokesman immediately responded to requests for comment on the progress of the ethics clause negotiations.