Sen. Bernie Moreno Links Nancy Pelosi To CLARITY Act Debate

Moreno Raises Pelosi as a Benchmark for Crypto Ethics Reform

Senator Bernie Moreno (R-Ohio) has escalated his push for the Digital Asset Market CLARITY Act, arguing that the bill's ethics provisions would set a new standard for conduct in Washington. Speaking publicly on the legislation, Moreno claimed that former House Speaker Nancy Pelosi would have accumulated substantially less personal wealth had the same standards been in place during her career, a pointed reference to long-running Republican criticism of Pelosi's financial dealings.

Moreno, one of the lead Republican sponsors on the bill, described the ethics language in the updated CLARITY Act as "the most powerful ethics language in U.S. history," urging fellow lawmakers not to be swayed by what he called Democratic misinformation about the provisions. He has also previously co-sponsored the PELOSI Act, a separate bill introduced by Senator Josh Hawley that would ban members of Congress from trading or holding individual stocks.

Senate Floor Vote Under Pressure as August Recess Looms

Moreno's comments came as the CLARITY Act entered what could be a decisive stretch for the legislation. A new version of the bill would impose the first limits on federal officials sponsoring or issuing cryptocurrency, with Republicans releasing an updated draft that includes ethics provisions for federal officials and bans on crypto being used for illicit transactions.

Senators Cynthia Lummis (R-Wyo.) and Moreno are reported to have reached an agreement with the White House on ethics language that directly involves President Trump, a development that may open the door to a Senate floor vote on the Digital Asset Market CLARITY Act. Senate Majority Leader John Thune said he expects the Senate to consider the measure, telling reporters: "It'll get a vote, not sure when yet but in the next couple weeks."

The timeline is tight. August 7, the last working day for the Senate before recess, is the practical deadline. The CLARITY Act will determine whether the $2.28 trillion industry receives a permanent set of regulatory guidelines in 2026, or whether it continues to rely on an unpredictable, disjointed set of rules into another year.

Democratic opposition has not eased. Senator Ruben Gallego, one of only two Democrats to vote the bill out of committee, called the Republican ethics proposal very weak, while Senator Cory Booker emphasized that only a bipartisan agreement could move the legislation forward. Several Democratic senators indicated that their committee votes did not guarantee support on the Senate floor without further progress on the ethics provision addressing government officials' ties to the crypto industry.

Moreno has continued to press for an immediate floor vote, framing the ethics debate as an opportunity to draw a clear contrast with the financial conduct of career politicians in Washington.

Sources:
CNBC: Senate crypto bill would ban federal officials from issuing digital assets
CoinDesk: Key Democratic lawmakers say CLARITY Act falls short on ethics
Latham and Watkins: US Crypto Policy Tracker