**[U.S. "Clarity Act" Legislation Enters Critical Stage, Ethics Clause Becomes Obstacle]**
According to The Block, the U.S. "Clarity Act" cryptocurrency legislation has entered a critical stage. Congressman William Timmons stated that the legislation will definitely be completed, as it is one of the President's priorities and enjoys bipartisan consensus. Senate Majority Leader John Thune hopes to complete the Senate vote before the August 7 recess, but the bill still needs to return to the House for review.
The main point of contention currently lies in the ethics clause, which seeks to restrict federal officials such as the President, Vice President, and members of Congress from profiting from digital assets during their tenure. On Thursday afternoon, Donald Trump, Republican Senators Bernie Moreno and Cynthia Lummis, and White House Chief of Staff Susie Wiles held a meeting regarding the ethics clause, seeking Trump's endorsement.
Democratic Senator Ruben Gallego stated that if the ethics clause does not meet standards, Democrats will not vote in favor. Blockchain Association CEO Summer Mersinger expressed cautious optimism about the bill's prospects but warned that if amendments related to prediction markets are included, they could act as a poison pill and should be addressed through separate legislation.
