Trump weighs ethical counter-proposals to the Clarity Act; Senate needs 60 votes by August 7.

According to Odaily Planet Daily, US President Trump is weighing bipartisan ethical counter-proposals to the CLARITY Act, with Senate negotiators needing to finalize rules regarding conflicts of interest in cryptocurrencies before the August 7 recess. The bill proposes a federal regulatory framework for crypto companies by dividing responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Republican Senator Thom Tillis and Democratic Senator Ruben Gallego submitted a plan to the White House on July 29th outlining enforcement by state attorneys general. This plan would allow state agencies to enforce bans on federal officials issuing or sponsoring digital tokens, rather than relying solely on the Department of Justice to handle such violations. The US House of Representatives passed its version of the bill on July 17th with 294 votes in favor and 134 against, with over 70 Democrats voting in favor. The Senate has not yet held a full vote; the bill requires 60 votes, and even with full Republican support, at least 7 Democrats are still needed to approve it.