Overview
- Ethics talks have stalled with White House crypto adviser Patrick Witt in three-way negotiations and reporting saying roughly $2.3 billion in Trump-family crypto interests sit at the center of the dispute following Wednesday’s reporting.
- Four major law-enforcement groups and nearly 100 Catholic leaders sent letters warning that Section 604’s developer safe-harbor could create gaps for investigations and anti‑money‑laundering work.
- The Department of Justice publicly rejected those warnings, saying the CLARITY Act would not limit federal prosecutors’ or investigators’ ability to pursue criminal conduct involving digital assets.
- Senator Cynthia Lummis plans to publish a final text around July 4 and push for a July floor vote, but the bill still needs resolved ethics language, a fix or compromise on Section 604, and agreement on Section 404’s stablecoin rules before about 60 senators will back cloture.
- Passage would end years of legal uncertainty for exchanges, stablecoin issuers and open‑source developers and shape U.S. competitiveness with overseas regimes, yet a compressed Senate calendar and the SAVE America sequencing dispute mean the window for resolving these fights is very narrow.