CLARITY ACT Could Collapse Without Ethics Provision, Says Senator Gillibrand

• Senator Kirsten Gillibrand said at Consensus Miami 2026 that the CLARITY Act will not pass the Senate without an ethics provision banning crypto ties for senior government officials.
• She said lawmakers have about one week to resolve disputes ahead of a potential Senate Banking Committee markup.
• She also forecast that a final Senate vote could take place in early August, though the timeline remains uncertain.

U.S. Senator Kirsten Gillibrand (D-NY) said on Wednesday the CLARITY Act is unlikely to clear the Senate without an ethics provision banning crypto ties for senior government officials.

"There will be no one voting for this bill if we don't have an ethics provision," Gillibrand said at Consensus Miami 2026. The ethics clause is one of the last major sticking points in negotiations over the CLARITY Act, and Gillibrand made clear it is non-negotiable for her and the Democrats whose votes the bill needs to pass.

Bitcoin’s price edged 0.2% higher in the last 24 hours to around $81,400, paring gains after hitting a fresh three-month high of over $82,700 in early morning trade. On Stocktwits, retail sentiment around the apex cryptocurrency trended in ‘bullish’ territory over the past day, accompanied by ‘high’ levels of chatter.

Trump Crypto Ties Add Pressure To CLARITY Act Debate

"We cannot allow members of Congress, senior administration officials, presidents, or vice presidents to get rich off of these industries because of their insider status," Gillibrand said on stage. "It is the worst form of pay-for-play; it is the worst form of campaign finance violations; it's a violation of the Constitution."

She was pointing to President Donald Trump's sprawling crypto business interests, including the Official Trump (TRUMP) memecoin and World Liberty Financial (WLFI).

She said negotiators have roughly one week to resolve the ethics dispute in order to secure a bipartisan vote in the Senate Banking Committee hearing expected as soon as next week. Consumer protection and illicit finance provisions are also still being worked through, she said.

Timeline Slips Amid Ongoing Senate Negotiations

A final Senate floor vote, Gillibrand predicted, could come in the first week of August  "if we're lucky," marking the last window before Congress breaks for summer recess.

That timeline is already slipping. Senator Cynthia Lummis (R-WY), the bill's lead Republican sponsor, said last week she intended to push the CLARITY Act across the finish line in May, a deadline that has now effectively passed amid scheduling setbacks and ongoing friction between the crypto and banking industries.

The CLARITY Act would outline a comprehensive framework for classifying cryptocurrencies and define how yield rewards can be paid out, a priority for companies such as Coinbase (COIN) and Ripple (XRP). 

COIN’s stock was down over 1% in afternoon trade on Wednesday, but retail sentiment on Stocktwits around the company remained in ‘bullish’ territory over the past day. XRP’s price, on the other hand, gained over 1% in the last 24 hours to touch $1.43. However, retail sentiment trended in ‘bearish’ territory over the past day.

Read also: HUT Stock Eyes Record High Above $100 After $10 Billion Texas AI Data Center Deal

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