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Senate Clarity Act Amendment Would Bar President, Federal Officials From Issuing Crypto
JH Kim
Summary
- An amendment to the Clarity Act under consideration in the U.S. Senate includes a ban on issuing and endorsing cryptocurrencies by federal officials, including the president.
- The amendment also reportedly includes a provision that would restrict the president from earning profits through cryptocurrencies.
- The Clarity Act is considered the first major bill to comprehensively regulate cryptocurrencies in the U.S.
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An amendment to the Clarity Act under consideration in the U.S. Senate would bar federal officials, including the president, from issuing or endorsing cryptocurrencies.
CNBC reported on July 22 that Republicans released the amendment. It also includes a provision to restrict the president from profiting from cryptocurrencies.
The Clarity Act is considered the first major bill to comprehensively regulate cryptocurrencies in the U.S.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.