Bipartisan U.S. senators have drawn up a new compromise over ethics provisions in the Clarity Act, a cryptocurrency market-structure bill, but prospects for action before the August recess remain unclear. The compromise was sent to the White House, though its wording has not been disclosed. Democrats have sought tougher rules amid concerns about President Donald Trump’s conflicts of interest. Senate leaders have yet to file key floor motions, and other priorities could push consideration into September.

BlackRock has publicly backed the U.S. crypto market-structure bill known as the Clarity Act, calling it an important step toward an investor-first regulatory framework. The stance follows similar support from Goldman Sachs, Fidelity and Charles Schwab. The bill would split oversight of spot crypto trading between the SEC and CFTC. Despite rising support, its outlook in the Senate remains uncertain because 60 votes are needed.