Democrats Demand Regulation of Trump’s Digital Assets

Negotiations on the Clarity Act, a U.S. Senate bill concerning the structure of the digital asset market, are facing difficulties due to former President Donald Trump’s digital asset holdings. The Democrats are calling for ethical regulations that limit the digital asset holdings and issuance by the president and high-ranking officials, while the Republicans are pushing to expedite the bill's processing. Recently, a report on Trump’s assets revealed an increase of approximately $1.4 billion related to digital asset businesses, prompting Democrats to strengthen their position that provisions to prevent conflicts of interest should be included in the bill. They are raising concerns about Trump’s meme coin business, predicting that he will earn $636 million in 2025. Democratic lawmakers argue that it should be illegal for the president to issue or endorse digital assets. The deadline for processing the bill is approaching, and the Senate must address the Clarity Act before the summer recess. Former President Trump is urging the passage of the bill, while the Democrats have stated they will not cooperate unless the conflict of interest issue is resolved.

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