TLDR
- Three Senate Democrats — Chris Murphy, Chris Van Hollen, and Jeff Merkley — publicly opposed the CLARITY Act at a Capitol Hill press conference
- Democrats say the bill must include ethics provisions blocking Trump and his family from crypto dealings
- Trump disclosed earning $1.4 billion from crypto in 2025, fueling opposition
- The bill needs 60 votes to pass the Senate, requiring Democratic support
- Senate Majority Leader John Thune says a vote will happen before August 10
The U.S. Senate is heading toward a vote on the Digital Asset Market Clarity Act, and the path forward is getting harder. Three Democratic senators went public Tuesday with their opposition, calling the crypto regulation bill “corrupt” and demanding ethics reforms before they’ll back it.
NEW: 🇺🇸Sen. Elizabeth Warren is urging Senate leaders to add ethics rules to the CLARITY Act that would bar government officials and their families from profiting off crypto. https://t.co/Vfw13ZxDKP pic.twitter.com/Y6lsbo0GqH
— Coin Bureau (@coinbureau) July 14, 2026
Senators Chris Murphy, Chris Van Hollen, and Jeff Merkley held a press conference on Capitol Hill to make their case. They were joined by advocacy groups and actor Ben McKenzie. Their core argument: the bill fails to stop President Trump from profiting off the crypto industry he would have the power to regulate.
“If this system does not stop Trump’s corruption of the entire industry, this bill is worthless,” Murphy said.
The Ethics Dispute at the Center of the Bill
The main sticking point is a provision that would ban senior government officials, including the president, from personally engaging in crypto. Democrats say this section is non-negotiable. Many who sat at the negotiating table and voted yes in committee have said they’ll flip to no without it.
Trump disclosed earning $1.4 billion from crypto ventures in 2025. That includes his memecoin and his family’s World Liberty Financial company. Democrats say those financial ties represent a direct conflict of interest.
Van Hollen, who sits on the Senate Banking Committee, called the bill “a corrupt piece of legislation that will do a lot of harm.”
So far, no compromise has emerged that satisfies both sides and the White House.
What Happens Next
The CLARITY Act passed the House nearly a year ago as part of the Republicans’ “Crypto Week” push, which also saw the GENIUS stablecoin bill signed into law. To clear the Senate, it needs 60 votes — meaning Republicans must win over several Democrats with their slim majority.
Senator Lindsey Graham’s death last weekend left Republicans with a 52-47 majority. With Senator Mitch McConnell still hospitalized, the party may only have 51 members present for a vote.
Senate Majority Leader John Thune has committed to holding a vote before August 10, when the chamber breaks for a state work period. Trump has urged senators to pass the bill.
Senator Cynthia Lummis, a key supporter of the bill, said the updated text would be released “in the next few days.”
Two law enforcement groups — the National Organization of Black Law Enforcement Executives and the Federal Law Enforcement Officers Association — have come out in support of the bill, saying it would help tackle digital asset-related crime.
The final version of the bill had not yet been released as of Tuesday, and no ethics compromise had been announced.
