A bipartisan group of senators has put forward an ethics proposal to President Donald Trump that could unlock the Clarity Act, according to Bloomberg. The plan includes a provision that would require Trump to divest from businesses connected to crypto assets if he wishes to advance the legislation. Such a divestment, sources familiar with the discussions told Bloomberg, could enable him to defer federal taxes on capital gains from the sale for years, and potentially even longer.
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AAPLTax consequences tied to divestment
The measure under negotiation would require the president to sell his holdings in companies closely tied to the cryptocurrency sector. Insiders said that, under current tax rules, this forced sale could allow Trump to postpone paying federal taxes on any resulting gains well into the future.
Lawmakers and White House officials have not shared the full details of this ethics addendum publicly. Negotiations remain ongoing, and no final agreement has been reached. The development comes as the Clarity Act faces persistent hurdles in Congress over ethics and transparency requirements affecting the president’s financial interests.
Lawmakers divided on oversight
Debate around the ethics package has stalled progress on the Clarity Act for several months. While Trump previously supported language mediated by Senator Cynthia Lummis, both Democrats and Republicans have continued to press for additional safeguards.
Senators Thom Tillis and Ruben Gallego reportedly submitted a counter-offer to the White House in late July, seeking further measures to address possible conflicts of interest. In addition, Senate Democrats have demanded public hearings to examine the president’s crypto holdings and transactions.
These ongoing disputes among lawmakers from both parties have led to significant delays, forcing the vote on the Clarity Act to be rescheduled to September.
The lack of consensus illustrates the challenges of crafting regulations that address emerging technologies while balancing transparency, oversight, and individual financial interests.
Growing market relevance and new platforms
Amid regulatory uncertainty, innovation in the digital asset space continues to attract attention. Analysts and industry leaders have noted the growing importance of platforms that bridge the gap between traditional finance and cryptocurrencies.
One example is 1stepSwap, a practical platform that streamlines access to real-world assets by transferring them onto the blockchain. Users can convert assets such as shares of leading U.S. companies or commodities like gold and silver directly within their wallets, eliminating the need for complex paperwork or middlemen. The platform searches for the most competitive prices in real time, making it possible to trade major stocks within seconds and diversify portfolios efficiently.
