Republicans target Trump's crypto empire with new plan, Dems say it falls short

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. Sen. Cynthia Lummis, Senate Digital Assets Subcommittee Chair, confirms the CLARITY Act is set for a Senate floor vote the week of July 20th. This crucial bill, developed over 10 months, aims to bring much-needed stability and regulatory certainty to the US crypto markets. Its passage before the August recess is vital for encouraging onshore business. Senate Republicans want to rein in President Donald Trump’s income explosion since returning to the White House, but Democrats aren’t sold on how they’re going to do it. The Senate is on the cusp of moving landmark cryptocurrency legislation known as the Clarity Act that, if passed, proponents say would finally fold the novel currency into the nation’s web of financial regulations. Tucked away in the over 600-page package are a slate of ethics provisions that target Trump, the vice president and their s