Bloomberg: Trump's encryption proceeds are the biggest obstacle to the Clarity Act

On 25 July, Bloomberg reported that some $1.4 billion of Trump ' s proceeds from encryption operations had become the biggest obstacle to the passage of the Clarity bill. The Senate Republicans released a draft this week in an attempt to break months of deadlock, but the Democrats and Consumer Rights immediately criticized the lack of a strong moral clause that would prevent the Toran from spreading its family’s benefits from the encryption business. Trump needed at least seven Democrat Senators to pass the bill, and Angela Alsobrooks, Democratic Party of Maryland, called the moral clause “key”. The debate focused on three areas: the exclusive jurisdiction of the Ministry of Justice (exclusion of supervision by the State Attorney-General), whether moral restrictions covered the indirect shares held in Trump, the fact that the bill did not bind the children of officials, and whether the provisions would automatically expire on 20 January 2029. Senator Ruben Gallego of the Arizona Democratic Party and Senator Thom Tillis of the Republican Party of North Carolina indicated that they were studying the compromise, but the Senate majority leader, John Thune, saw little chance that the bill would be passed before the August recess. In addition, the banking community is opposed to the provisions to stabilize currency gains and is concerned about the loss of deposits. Polymarket shows that the probability of passing the Clarity Act this year has dropped to about one third。