Odaily News According to multiple sources, bipartisan members of the U.S. Congress attempted to include a clause in the CLARITY Act this week to prevent officials from having conflicts of interest in cryptocurrencies while in office, in response to Democratic concerns about President Trump's profiteering in crypto businesses. However, the White House rejected the proposal on the evening of June 11, blocking the two parties' efforts to compromise on the issue. The clause was originally intended to restrict the president, vice president, members of Congress and their immediate family from controlling, promoting or profiting from crypto projects while in office, and tried to draw on the normative language of campaign finance and disclosure systems to reduce political sensitivity. The "ban on Trump's participation in crypto" amendment proposed by Maxine Waters, a Democratic member of the House Financial Services Committee, was ultimately rejected at 21:30. Sources said the White House is negotiating alternative language with House Republicans, hoping to push the CLARITY Act and stablecoin legislation to completion before the July congressional recess so that Trump can sign it into law in August. But the uncertainty of Democratic support may affect whether the bill can be successfully sent to the Senate for deliberation. According to Forbes estimates, Trump has accumulated $3.3 billion in profits through his crypto projects, and his net worth has risen to $5.6 billion. He and his family are currently involved in multiple projects including stablecoins, Bitcoin mining, ETFs and DeFi. Democratic lawmakers questioned whether he might use policy conveniences to profit from private projects during his tenure, making legislation more difficult. (Unchained)