A group of senators will meet with President Donald Trump at the White House on Thursday afternoon to discuss progress on a sweeping cryptocurrency regulatory bill, Sen. Bernie Moreno (R-Ohio) said in an interview.
Ethics provision stalls talks
Negotiations on the Clarity Act have gone back and forth for months.
One of the biggest unresolved issues involves an ethics provision seeking to address Trump’s business ties to the crypto industry.
The measure is a requirement for Senate Democrats, whose support is necessary to pass the bill through the chamber.
Moreno said a group of senators will give the president an update about the bill and its “path to success”:
“We’ll be talking about the entirety of the bill. I mean, obviously the president’s been very engaged in this bill.”
Sen. Cynthia Lummis (R-Wyo.), a key architect of the legislation, will also attend, according to a Senate Republican aide.
Racing the August recess
Lawmakers are rushing to pass the bill before the August recess, after which midterm election politics will make substantive legislation harder to move.
Sen. Thom Tillis (R-N.C.) said in an interview:
“I’m hoping that we can come up with some agreement by the end of this week. I think it’s critical if we’re going to try and get this across the floor before August recess.”
Senate Majority Leader John Thune said he hopes to put the bill on the floor for a vote this work period, which ends Aug. 7.
Draft still pending
Lummis said a draft could circulate as soon as Wednesday, but senators were still weighing whether to include ethics language or bracket it for later.
It remains unclear when a revised draft will be released.
