《CLARITY Act》 Introduces for the First Time Provision to Limit President and Officials from Profiting through Cryptocurrency

BlockBeats News, July 23rd, according to CNBC, the U.S. Senate is considering a new version of the "CLARITY Act" that proposes to prohibit the President and other federal officials from issuing or sponsoring cryptocurrency and other digital assets.

Republican lawmakers updated the text of the bill on Wednesday. For the first time, a provision restricting the President from benefiting from cryptocurrency assets has been included, and the relevant provisions will apply to the President and other federal officials.

The "CLARITY Act" aims to be the first comprehensive legislation regulating the digital asset market in the United States and is currently in the Senate review stage.