Today marks a crucial meeting on the CLARITY Act. Trump will personally attend the meeting to discuss with Republican senators the most contentious issue with the bill: how to address Trump’s and his family’s commercial interests in the cryptocurrency industry. Put more bluntly, Democrats are concerned that while Trump serves as U.S. President and shapes cryptocurrency regulatory policy, members of his family and certain government officials are leveraging their positions to profit from cryptocurrency projects. If future regulations are relaxed, Trump’s family and associated officials could directly benefit from their cryptocurrency ventures. For this reason, Democrats are demanding that the bill include restrictions preventing the President, senior government officials, and their families from drafting cryptocurrency rules while simultaneously profiting from their own crypto projects. This is currently the most politically challenging aspect of the CLARITY Act. For Republicans to pass the bill, they need to secure support from at least some Democratic senators—but without imposing limits on Trump’s family’s crypto interests, reaching the Senate’s required 60 votes will be extremely difficult. Thus, whether Trump is willing to accept these restrictions may directly determine the final wording of the bill. Today’s meeting is not about Trump publicly endorsing cryptocurrency again. Rather, Republicans will present several potential solutions to Trump, forcing him and his party to decide how much restriction they are willing to accept on their family’s crypto business interests. If an agreement can be reached, the final version of the CLARITY Act may be released soon, and the bill could advance to its final Senate vote. But if Trump and his party refuse to compromise—or if Democrats believe the proposed limits are merely symbolic—the bill will remain stalled. The fact that Trump is personally attending these final negotiations at least signals one thing: the White House now regards the CLARITY Act as one of its top-priority cryptocurrency legislative initiatives, and the bill has truly reached its decisive final negotiation stage. Tonight’s key question is not whether Trump will continue to voice support for cryptocurrency—but whether he is willing to impose restrictions on his own and his family’s crypto business interests to ensure the CLARITY Act passes.
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