BlockBeats report, on August 1, according to crypto journalist Eleanor Terrett, the Trump administration is considering a bipartisan ethics counterproposal introduced by Senator Tillis and Representative Gallego, which would grant state attorneys general the authority to sue the Department of Justice if it fails to enforce ethics laws against federal officials.
The Clarity Act is a bipartisan cryptocurrency market structure bill that has passed through a Senate committee and includes a compromise provision on stablecoin yields; its fate may depend on the White House's response this weekend to an ethics proposal, which will determine whether to proceed with a cloture vote.
If an ethical compromise is reached, the Clarity Act could advance, providing regulatory clarity for non-custodial developers, such as Bank Secrecy Act exemptions; otherwise, certain provisions of the GENIUS Act may be triggered, increasing regulatory uncertainty for stablecoins.