An unserious offer

The Clarity Act, a crypto market structure bill, appears close to dead after Senator Angela Alsobrooks (D-MD) called the White House-endorsed ethics compromise "an unserious offer." The compromise would bar the president and members of Congress from issuing cryptocurrencies, but it expires January 20, 2029, is enforced by a Justice Department headed by Todd Blanche, a former Trump lawyer, and caps fines at $500,000. The article reports that the crypto industry has spent $200 million since 2024, and that Trump disclosed $1.4 billion in crypto income last year.