Summary
- Uncertainty persists over passage of the CLARITY Act, a U.S. Senate bill to regulate cryptocurrency.
- Sen. Kirsten Gillibrand said there can be no agreement on the CLARITY Act without provisions to block crypto insider trading.
- The market is watching how debate over public-official ethics provisions and conflicts of interest will affect the legislative timetable.
Forecast Trend Report by Period
Conflicts of interest involving public officials have emerged as a key sticking point in the U.S. Senate's debate over cryptocurrency regulation, adding to uncertainty over whether the legislation can pass.
Sen. Kirsten Gillibrand said there will be no agreement on the CLARITY Act unless it includes provisions to prevent insider trading in digital assets, The Block reported on May 6.
Speaking at the Consensus 2026 conference, Gillibrand said lawmakers and government officials should not be allowed to use insider status to build wealth through the industry.
She added that many Democratic lawmakers are concerned about potential conflicts of interest involving the Trump family and the crypto industry.
Bloomberg previously estimated that the Trump family has earned at least $1.4 billion from the crypto industry.
The CLARITY Act has found some room for compromise on whether stablecoins should pay interest, but the inclusion of ethics provisions for public officials is emerging as the central issue.
The market is watching whether the politically charged debate over the bill will affect the legislative timetable. How lawmakers resolve the ethics provisions remains a key variable.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
