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White House rejects CLARITY Act's provisions on conflict of interest in cryptocurrencies

Internet reported that during a critical stage of negotiations on Tuesday night, the White House rejected proposals by House Republicans and Democrats to add conflict of interest restrictions to the CLARITY Act. The clause aims to restrict senior political figures (including presidents, vice presidents, members of Congress and their families) from participating in the cryptocurrency business during their terms of office. Democrats want to use the clause to prevent President Trump from profiting from cryptocurrencies, while Republicans try to avoid the clause being seen as a direct criticism of Trump. At present, the two sides have not yet reached a consensus, and the White House and the Republican Party are trying to draft an alternative plan.

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