US officials barred until 2029 from issuing or sponsoring tokens under CLARITY’s proposed ethics rules
Cointelegraph 2026-07-22 18:41:30
Context: The US government is considering a new bill called the CLARITY Act, which aims to establish ethics rules for public officials. If passed, the bill would bar US officials from issuing or sponsoring tokens until 2029. The proposed rules would also apply to the crypto ventures of high-ranking officials, including the President.
Key Facts
- The CLARITY Act's proposed ethics rules would prohibit US public officials from issuing or sponsoring tokens for a period of time that extends until 2029.
- Senator Cynthia Lummis, a key advocate for the bill, confirmed that the ethics language would apply to crypto ventures of US presidents, which would include former President Donald Trump's crypto-related endeavors.
- The proposed rules are intended to establish a clear set of ethics guidelines for public officials, preventing them from potentially exploiting their positions for personal gain through cryptocurrency ventures.