Sen. Gallego Says Congress Can Still Pass Crypto Bill Despite Ethics Stalemate

Democratic Senator Ruben Gallego, a lead negotiator on the CLARITY Act, said Wednesday that Congress can still get the bill passed despite an unresolved ethics dispute with the White House. Speaking at the SALT conference in Wyoming, Gallego said multiple versions of an ethics provision sent to President Trump had gone unanswered, coming back either unchanged, weaker, or without any response at all.

Trump’s Crypto Holdings at Center of Debate

Concerns over Trump’s growing crypto business interests, which now generate millions in income, have hung over negotiations for months. In July, Trump agreed to language blocking public officials and their spouses from issuing or sponsoring digital assets, with enforcement handled by the Department of Justice and a sunset clause running through January 2029. Democrats criticized that version as insufficient. Trump is now considering a revised proposal from Gallego and Senator Thom Tillis that would allow state attorneys general to enforce the same restriction.

60 Votes Still Needed to Advance the Bill

Gallego emphasized that reaching 60 votes in the Senate will require solid ethics legislation alongside resolution of other outstanding issues, including how stablecoin yield should be treated and concerns that the bill doesn’t adequately address illicit finance risks.

Narrow Timeline Ahead

Lawmakers return to Washington next month with only a few weeks to act before a scheduled procedural vote on September 15. Gallego acknowledged that some political factions on both sides may prefer the bill fail to keep it as a political talking point, but said others remain committed to getting it passed.