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Senator Warren Opposes CLARITY Act Over $1.4B Trump Family Crypto Conflict, Ahead of Thursday Vote

GateNews

Regulation & Policy

2026-05-12 19:11:53

According to Senator Elizabeth Warren, ahead of Thursday’s Senate Banking Committee markup, she opposed the latest version of the Digital Asset Market CLARITY Act, warning that it fails to address conflicts of interest tied to President Donald Trump and his family’s crypto ventures. Warren, the ranking Democrat on the committee, stated that Trump and his family have gained at least $1.4 billion from crypto deals during his current term.

The draft legislation does not include broad conflict-of-interest protections preventing elected officials and their families from profiting from crypto-related businesses while shaping digital asset rules. Warren argued the bill puts investors, national security and the financial system at risk. White House crypto adviser Patrick Witt responded on X, defending the legislation and suggesting ethics language should apply broadly rather than target a specific officeholder.

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