Senators Target Trump Over CLARITY Act

Opposition to the Digital Asset Market Clarity Act is hardening inside the Senate. Three Democratic lawmakers took their case public on July 14, arguing the bill does little to address what they describe as a serious conflict of interest at the heart of U.S. crypto regulation.

Three Senators Draw a Line

Senators Chris Murphy, Jeff Merkley, and Chris Van Hollen held a press conference on Capitol Hill to formally declare their opposition to the current CLARITY Act text. The trio spoke alongside representatives from Americans for Financial Reform and Indivisible, as well as actor Ben McKenzie, arguing the bill did not address what they called Trump's crypto corruption, pointing to the president's ties to the industry through his memecoin, World Liberty Financial, and related ventures.

Senator Van Hollen called the CLARITY Act a "corrupt piece of legislation that will do a lot of harm." Murphy went further, saying that "if this system does not stop Trump's corruption of the entire industry, this bill is worthless."

The senators have collectively conditioned their support on the inclusion of a crypto ethics provision that would make it illegal for sitting presidents, members of Congress, and their spouses to issue, sponsor, own, or profit from digital assets. Senator Elizabeth Warren has echoed that position, calling for the legislation to address what she described as "brazen financial corruption."

Trump's Disclosures Fuel the Dispute

The push for ethics guardrails has intensified following the release of President Trump's financial disclosure. The Office of Government Ethics published his 927-page annual financial disclosure on July 1, 2026, showing approximately $1.4 billion in cryptocurrency-related income during the first year of his second term, including more than $500 million from World Liberty Financial token sales and $635 million in royalties from $TRUMP meme coin licensing agreements.

A new and potentially final draft of the bill is expected soon, but it remains absent a resolution on what many view as the last major sticking point: a section banning senior government officials, including the president, from personally engaging in the crypto industry. Many Democrats have said they cannot vote for a CLARITY Act that omits that provision.

The Senate is scheduled to vote on the CLARITY Act the week of July 20. Senate Majority Leader John Thune has signaled he will push for a floor vote this month regardless, with the chamber having only a few weeks before its summer recess and the legislative calendar tilting toward midterm positioning. Clearing the chamber is not straightforward. The Senate requires 60 votes to overcome a filibuster, meaning Republicans need at least seven Democratic votes beyond their 53-seat caucus. So far, there has been no sign of a compromise that will satisfy both sides and the White House.

Sources:
CoinDesk: Senate Democrats Come Out Against Clarity Act
Cointelegraph: Three US Senators Oppose CLARITY Act on Ethics Grounds
CoinDesk: Trump's Crypto Riches Loom Over Clarity Act Talks