The CLARITY Act, a major crypto regulatory bill, hit a new roadblock this week as Senate Democrats renewed their objections. A minority staff analysis from the Senate Banking Committee argues the legislation preserves pathways for President Donald Trump to profit from his crypto ventures. Financial disclosures show Trump earned roughly $1.4 billion from crypto in 2025, and the analysis says the bill doesn't do enough to prevent conflicts of interest.
The Democratic Objection
The analysis, circulated among committee members, flags specific provisions that it says would allow Trump to maintain or expand his crypto holdings without meaningful oversight. Democrats on the panel have long been skeptical of the CLARITY Act, but this latest report gives them fresh ammunition. The timing isn't great for the bill's supporters — they were hoping to bring it to a Senate vote before the August recess.
Trump's Crypto Earnings
Trump's $1.4 billion in crypto-related income in 2025 came from a mix of NFT royalties, token sales, and investments in decentralized finance projects, according to his financial disclosure. That figure dwarfs his other reported income and has become a central talking point for opponents of the CLARITY Act. They argue the bill's language on disclosure and divestment is too weak to address a president with such a large crypto footprint.
The CLARITY Act already passed the House with bipartisan support, but the Senate path is uncertain. Majority Leader Chuck Schumer hasn't scheduled a floor vote, and the new analysis could push moderate Democrats to withhold support. The bill's sponsors are scrambling to negotiate amendments that might satisfy the critics, but no deal is imminent. If the Senate doesn't act before the recess, the bill could slip into the fall — or die entirely.
