Lummis Thanks Trump on Ethics as Clarity Act Vote Nears

Cynthia Lummis, the Republican senator, credited U.S. President Donald Trump with signing on to “the toughest ethics restrictions” so the Clarity Act could move forward.

Writing on X on Monday, the crypto-friendly senator said Trump had agreed to tighter statutes that give state attorneys general the right to sue to enforce conflict-of-interest restrictions on federal officials.

Lawmakers are scheduled to vote on the Clarity Act on Tuesday. The measure is meant to split regulatory oversight along formal lines, determining whether digital assets count as securities, commodities or stablecoins — rules that crypto industry executives have long demanded.

“President Trump had already agreed to the toughest ethics restrictions on federal officials in American history to get this bill done.” “Time for Democrats to take yes for an answer.”

Lummis said: “Back in July, Trump voluntarily put himself, the VP, every federally elected official, judges, and their spouses under the strictest ethics rules this country has ever seen. Most people in Washington never would’ve offered that. Democrats still wanted independent, outside enforcement, not DOJ alone — so Trump went back to the table and gave more.”

She continued: “A no vote tomorrow kills the toughest ethics reform this country has ever put on the books, kills consumer protections for every American holding digital assets, and hands the future of this industry to our foreign competitors.”

On Sunday night, Lummis, together with Senators John Boozman and Tim Scott, put out a fresh draft of the Clarity Act that grants attorneys new enforcement powers.

An updated Clarity Act draft that would bar government officials from promoting or profiting from cryptocurrency began circulating in July, but Democrats wanted more work done on it.

Trump ran for office pledging to help the crypto sector, yet some lawmakers in Washington have faulted the Trump family's profits from digital asset ventures, including the president's memecoin, $TRUMP, and the World Liberty Financial project.

Both Trump and the White House have consistently denied that any conflicts of interest exist.

During an August Punchbowl News interview about the Clarity Act and ethics, Trump pointed out that Democrats have also made money through stock trading.

The Clarity Act cleared the House last year, but it has been stuck this year, largely because the banking lobby and crypto companies fought over the payment of stablecoin yield to customers.

Lummis and fellow Republicans have accused Democrats of purposely delaying the bill.