The U.S. Senate is poised to vote on the Clarity Act during the week of July 20th, a landmark cryptocurrency bill designed to bring regulatory clarity and stability to the nation's crypto markets. Developed over ten months, the bill is considered crucial for encouraging onshore crypto business before the August recess.

The Clarity Act includes over 600 pages of provisions, among them ethics measures targeting President Donald Trump, the vice president, and their spouses. These guardrails would prevent federal officials from creating digital currencies for profit, endorsing crypto, and would require divestiture or blind trusts within a year of enactment. Officials would still be allowed to own cryptocurrency but must disclose sales.

President Trump’s income reportedly surged by $1.4 billion in his first year back in office, largely due to earnings from ventures such as the $TRUMP memecoin, World Liberty Financial token sales, and Stablecoin Holdco. Overall, his income increased 250% to $2.2 billion, primarily from crypto-related sources.

Despite these measures, Senate Democrats express dissatisfaction with the bill’s ethics provisions, arguing they fall short. They contend the legislation appears focused on one individual—President Trump—rather than establishing a fair framework serving all branches of government over time. Democrats remain unconvinced that allowing Trump the choice between a blind trust or divestiture sufficiently addresses conflicts of interest related to digital assets.

The bill’s passage is seen by proponents as a significant step toward integrating cryptocurrency into the existing financial regulatory system.

Meanwhile, President Trump has been visiting his Trump Turnberry golf course and Trump International Golf Links in Scotland from July 25 to 29, 2026. Notably, on July 27, 2025, he and European Commission President Ursula von der Leyen announced a U.S.-EU trade deal at Trump Turnberry.

Sources