Reported White House ethics deal boosts prospects for Senate crypto market bill

Report points to movement on stalled provision

The shift in sentiment followed a July 20 post on X from journalist Eleanor Terrett, who said the White House had agreed on an ethics package for the Clarity Act and sent the language to certain Senate Republicans, citing multiple industry sources. Terrett also said the details remained unclear and that the specific text was not yet public.

That ethics section had become the central point of contention around the bill. Democratic senators had tied their support to conflict-of-interest rules intended to prevent senior government officials from holding or profiting from digital assets they oversee through regulation. According to the report, agreement on that issue may have broken a standoff that had held up the legislation for weeks.

Crypto market reacts to revived vote hopes

Digital asset prices rose alongside the renewed expectations for Senate action. Bitcoin traded around $66,700, up roughly 2% over 24 hours, with daily volume near $31 billion. Ether changed hands around $1,930, up about 1.8%. XRP gained close to 4% to about $1.15, while Solana rose by less than 1% to roughly $78.

Prediction markets had previously reflected growing skepticism that the measure would move soon. On Polymarket, the perceived odds of passage had dropped into the low-to-mid 40% range during the deadlock, after standing above 80% earlier in the year.

How the ethics fight developed

The dispute sharpened after President Trump’s 2025 financial disclosure showed about $1.4 billion in crypto-related income, including royalties from the TRUMP meme coin and proceeds tied to World Liberty Financial. Democrats argued that advancing a national framework for digital assets without clear ethics rules was untenable given those disclosures.

The White House had argued that any restrictions should apply evenly across government officials rather than target the president or his family. One earlier compromise proposal, which would have allowed state attorneys general to enforce ethics violations, was rejected by Democrats. A separate ethics amendment from Sen. Chris Van Hollen was later defeated on a party-line vote during the Senate Banking Committee’s May markup.

What remains before a Senate vote

The Digital Asset Market Clarity Act, H.R. 3633, would create a federal market-structure regime for digital assets. It would divide oversight between the Commodity Futures Trading Commission and the Securities and Exchange Commission, while putting into statute rules that currently rely on agency guidance. The House passed the bill in July 2025, and the Senate Banking Committee advanced it in May 2026.

The measure is seen as the companion to the GENIUS Act, the stablecoin law signed in July 2025, in what supporters describe as a two-part federal framework for the sector. Even so, an ethics agreement alone would not guarantee passage. The Senate calendar is tight ahead of the expected early August recess, and several Democrats would still need to support the bill before any vote could clear the chamber’s 60-vote threshold.

For now, the reported compromise has improved the outlook for floor consideration, but the result remains uncertain until the language becomes public and senators state their positions on the record.