Trump’s Financial Disclosures Fuel Crypto Ethics Controversy; Democrats Demand Inclusion of Restrictive Clauses

Odaily reported that U.S. President Trump’s newly released 927-page financial disclosure document reveals income including hundreds of millions of dollars in crypto-related earnings. Among these are millions of dollars in revenue linked to World Liberty Financial, the DeFi project launched by the Trump family in 2024. This disclosure has heightened the urgency of congressional negotiations over ethics provisions within the Clarity Act, the crypto market structure bill.

Currently, bipartisan lawmakers are negotiating the Clarity Act, which aims to establish the first comprehensive federal crypto regulatory framework in the United States. A key focus of the negotiations is whether to include ethics restrictions preventing the President, Vice President, members of Congress, and other federal officials from profiting from digital assets while in office.

Following the document's release, Democratic lawmakers reiterated that the bill must contain strict ethics clauses. Senator Angela Alsobrooks stated that such restrictions should apply to the President, Vice President, and all members of Congress. She noted that ordinary Americans should benefit from digital assets in a fair and honest manner, rather than allowing political figures to profit through corruption and institutional loopholes.

Senator Kirsten Gillibrand also indicated that both parties are still advancing stringent ethics reforms, proposing to prohibit the President, Vice President, and lawmakers from using crypto assets for personal gain. Meanwhile, Elizabeth Warren argued that if the Clarity Act fails to prevent the President, members of Congress, and their families from profiting from the crypto industry, the bill would further fuel controversies surrounding Trump-related crypto corruption.

Republicans, for their part, stated that ethics clauses remain part of the bipartisan negotiations. With the July window for advancing the Clarity Act approaching, the disclosure of Trump family crypto income could become a key variable influencing the final text of the bill and the level of Democratic support.