Negotiations over the CLARITY Act are continuing in the United States, with senior political figures reportedly working to resolve disagreements over ethics rules for public officials involved in the cryptocurrency sector.
Crypto journalist Eleanor Terrett reported that the White House has contacted Republican Senator Thom Tillis and Democratic Senator Ruben Gallego regarding a possible bipartisan ethics proposal.
However, people involved in cryptocurrency policy discussions reportedly remain uncertain about whether a final agreement can be reached.
One industry source described the situation as an unusual waiting period, while Terrett said several close supporters of President Donald Trump had spent much of the week working behind the scenes to negotiate a compromise.
The proposed ethics provisions are expected to restrict or regulate the financial interests that public officials and political figures may hold in cryptocurrency businesses, projects or related investments.
The parties have not yet agreed on the final scope of the restrictions or how the ethics language would be incorporated into the broader CLARITY Act.
BRCA Provisions Remain Under Discussion
Negotiators are also working through other unresolved sections of the legislation, including the Blockchain Regulatory Certainty Act, commonly known as the BRCA.
The White House is reportedly taking a leading role in discussions surrounding the proposal and is attempting to address concerns raised by some federal regulators and law-enforcement agencies.
The BRCA is designed to clarify when software developers and infrastructure providers working with decentralized blockchain networks should not be classified as financial intermediaries.
Supporters argue that clearer rules would protect developers who build non-custodial blockchain software without directly controlling customer funds or processing financial transactions.
However, regulators are still examining how broadly those protections should apply and whether additional safeguards are needed.
Negotiations are expected to continue as lawmakers attempt to reach agreement on ethics rules, developer protections and the wider regulatory structure for the US cryptocurrency market.
This article is for informational purposes only and does not constitute investment advice.
