CLARITY Act Ethics Provision Could Let Trump Defer Millions in Taxes

A provision in the CLARITY Act, introduced by Senators Thom Tillis and Ruben Gallego, would require President Trump to divest his crypto-related business assets. The arrangement could enable Trump to defer federal taxes on gains from those assets for years, with potential savings running into the millions of dollars. The clause has become one of the key factors pushing the CLARITY Act — the first comprehensive crypto regulation bill in the U.S. — toward a Senate vote. The latest version also gives state attorneys general the power to enforce the rules, whereas earlier drafts granted enforcement authority only to the Justice Department. As of Thursday afternoon, Senate Majority Leader John Thune had not yet filed a cloture motion, a procedural step required before a final vote. (The Block)