CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest, July 26

Clarity may get a vote, but don’t get your hopes up yetDespite wealthy memecoin entrepreneur Donald Trump agreeing to an ethics deal, the Clarity Act is floundering as the August recess deadline looms. Senate Majority Leader John Thune doesn’t believe the Act has the votes to pass just yet, but may bring it to a vote anyway to “get Clarity started. We’ll see where the votes are.”The ethics deal would prohibit all US officials from issuing or sponsoring digital assets, but contains some “get out of jail free” provisions for the President that the Democrats are unhappy with, including the fact the rules expire the day he is scheduled to leave office in 2029. The ethics provisions will also be enforced by the Attorney General that Trump appointed. The Democrats instead want state Attorney Generals to enforce it — but Trump seems unlikely to agree to empower dozens of state AGs to attempt to prosecute him. The White House described the bill as the “most comprehensive and wide-ranging ethics provision in history,” while Democratic Senator Ruben Gallego described it as a “piece of shit” and “not a serious effort.”Law enforcement organizations have also begun to signal support, with The N...