00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Senate Republicans released an updated Clarity Act draft that adds ethics rules and new crypto
00:08crime provisions while leaving major market structure policies largely unchanged, according
00:13to Benzinga. The proposal would bar presidents, vice presidents, lawmakers, federal judges,
00:18and their spouses from issuing or sponsoring digital assets for compensation while in office
00:24through January 20th, 2029. The proposed ethics overhaul comes as the Trump family
00:29has generated at least $2.3 billion from crypto ventures. Covered officials would also have to
00:35divest crypto holdings, place them in a blind trust, or use both options. The Justice Department
00:41could pursue civil enforcement and sue exchanges that knowingly list prohibited tokens. The bill
00:46would require disclosures for crypto sales above $1,000 and protect customer assets during exchange
00:51bankruptcies. For all things money, visit Benzinga.com.
Comments