Sources: an addendum to the bipartisan Clarity Act would force President Trump to divest from crypto businesses, letting him defer paying taxes on the gains (Bloomberg)
The bipartisan ethics proposal senators have pitched to President Donald Trump to get landmark crypto legislation over the line …
The US Senate will not vote on the Clarity Act this month. According to Cointelegraph, Senator Tim Scott, who chairs the Senate Banking Committee, had said that the Senate would vote on the Digital Asset Market Clarity (CLARITY) Act before it broke for an August recess. However, this did not happen.
Bloomberg reports that sources say an addendum to the bipartisan Clarity Act would force President Trump to divest from crypto businesses, allowing him to defer paying taxes on the gains.
The Clarity Act's prospects for becoming law this year have been dimmed, as per CoinDesk. The bill requires support from 60 lawmakers to pass the Senate and advance in Congress.
Brief written by urgent.news from Techmeme, CoinDesk, Cointelegraph — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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