Clarity Act Language Would Immunize Trump Digital Asset Ventures from Oversight
July 22, 2026
New ‘ethics’ language serves the president rather than provide needed industry oversight, allowing for continued abuse of the digital asset industry by government officials.
WASHINGTON, D.C.—The following is a statement from Virginia Canter, chief counsel and director of ethics and anti-corruption at Democracy Defenders Action, in response to ethics language included in the Clarity Act released today:
“The president made at least $1.4 billion in crypto last year while investors lost $3.8 billion on his meme coin alone. Now, rather than closing the door on self dealing, the White House-crafted language in the partisan Digital Asset Market Clarity Act would effectively immunize Trump from any level of oversight.
“If the intent of this bill were truly about market clarity and consumer protection, it would include enforceable ethics rules and legitimate reforms to prevent abuse of the digital asset industry by government officials. This manipulation of the legislative process selectively shields Trump’s vast crypto enterprise from oversight while pretending to clean up the industry.
“Members of the Senate must advance real ethics reform and strip self-serving provisions from the bill. If the Senate does not adopt strong ethics language that makes real reform, the Senate must vote no on this act.”
Read the full Clarity Act ethics language here.
Read Democracy Defenders Fund’s analysis on Trump’s financial disclosures here.
Read more about Trump’ s crypto ventures here.
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Democracy Defenders Action brings together a nonpartisan team to work with national, state, and local allies across the country to defend in real-time the foundations of our democracy.
For media inquiries, contact, press@democracydefenders.org.
