Clarity Act Countdown! Senate's New Timeline Revealed! Will Trump Approve New Ethics? | Cody Carbone

**Cody Carbone** (0:00)
If we get a bipartisan vote here, Democrats are going to say that this bill was all about ending Trump crypto corruption, whether you believe that or not.
And so it's a political game. Washington is all about politics, it's bitter. But I still think that there is enough motivated offices, Republican and Democrat, who want to get this done, who are willing to push through on the ethics side, hopefully, so the substance can prevail.

**Tony Edward** (0:26)
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**Amanda Wickroft** (1:58)
And I'm Amanda Wickroft.

**Tony Edward** (2:00)
Joining us is Cody Carbone, who is the CEO of The Digital Chamber. Cody, great to see you.

**Cody Carbone** (2:05)
Great to see you, Tony, Amanda. Always glad to be here.

**Tony Edward** (2:09)
Cody, I don't know what to say.
The Clarity Act, ethics and all the dialogue and the debate that's happening, it's kind of tiring me out, but I think it's a good time for us to be talking because there is potentially a vote that may be happening next week, the week of August 3rd. Let's start with the ethics issue. What's the latest there?

**Cody Carbone** (2:28)
So there was new ethics language from a bipartisan ethics agreement from Senator Tom Tillis and Senator Ruben Gallego and some other Democratic senators. That was sent to the White House just yesterday.
Now, we don't know how the White House is going to respond to this. Ultimately, the ethics language is about the president. You could say it's about all federal government officials, but it's about the president.
Democrats are looking to take the president to task. They, in trying to get to a yes on this bill, have to sell to their base that they did everything they can to stop the president from profiting off digital assets. So the ethics language, while it's not publicly out there, we know that it does include some of the things Democrats have been asking for since the initial text came out two weeks ago. They want state attorneys general to have a role here. They don't feel comfortable with just President Trump's own US. Attorney General being the sole law enforcement mechanism. So they want that. They want the president to divest all of the money he's made on crypto. So ultimately it'll come down to what the White House thinks, how they respond. Is the president comfortable signing on to this ethics deal? If that's yes, and hopefully we know very soon now that they've had almost 24 hours to look over it and probably will look over it through the weekend, I feel very comfortable about this bill moving forward because this bill has become solely about ethics, which is unfortunate. It's a 616 page bill, a bill that will be a landmark passage of statute that will create a foundational framework for digital asset regulation, and allow the US to lead, but it's all become about politics and ethics. So hopefully we understand where the White House is, if they're going to sign on to it, if they have more feedback for it, that will dictate where this bill moves forward over the next week and into the fall as well.