U.S. House Committees Review CLARITY Act Amid Rejected Amendments

According to BlockBeats, the U.S. House Financial Services Committee and Agriculture Committee are currently reviewing the CLARITY Act, a significant piece of legislation concerning the digital asset market. An amendment, which sought to prohibit U.S. President Donald Trump and his family from profiting through trading or promoting crypto assets, was rejected. Committee Chairman Thompson stated that the committee is not the place to discuss presidential ethics. Other amendments reviewed include Amendment #1, which proposed a comprehensive reauthorization of the Commodity Futures Trading Commission (CFTC), but was also rejected. However, Amendment #6, allowing the CFTC to collect more fees from market participants, was approved. BlockBeats notes that additional amendments related to President Trump are being proposed by other members of the House. The final outcome of the CLARITY Act remains undecided as the review process continues.