[DigitalToday reporter Jinju Hong] U.S. President Donald Trump agreed to an ethics clause included in the Clarity bill, a cryptocurrency regulation measure, easing part of the biggest hurdle for a Senate vote.

On July 21 (local time), blockchain media outlet CoinPost reported that negotiations over the clause, which have continued for months, had been seen as the "last barrier" to passing the bill.

The Clarity bill is a measure that comprehensively regulates the U.S. cryptocurrency industry, with a focus on clarifying the jurisdictions of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The Senate has struggled to reach an arrangement on how to limit public officials' cryptocurrency conflicts of interest, more than on the bill itself.

The ethics clause Trump accepted limits federal officials, including the president, vice president and members of Congress, from profiting from cryptocurrencies while in office. Negotiations continued for months and had been cited as a key variable that would determine whether the bill would move through the Senate.

At the center of the dispute were a meme coin linked to Trump personally and World Liberty Financial (WLF), which was established by the Trump family. A financial disclosure released last month revealed that Trump earned revenue worth millions of dollars related to WLF. This further intensified the dispute over the need for the ethics clause.

The ethics clause was discussed at a meeting on July 16 attended by Trump, Senators Bernie Moreno and Cynthia Lummis, and White House cryptocurrency policy adviser Patrick Witt, but no agreement was reached at the time. The negotiations advanced again after receiving Trump's approval on July 20.

Some had raised the possibility that the bill's text could be released as early as the night of July 20, but the timing could be pushed back. Officials expect the process to move to a Senate floor vote after the text is released. There is also a view that the longer the time until the provisions are made public, the more it could help forge a bipartisan agreement.

No direct price reaction was presented from the market, but the agreement is seen as a factor that reduces regulatory uncertainty. In particular, the Clarity bill has been discussed as a framework to comprehensively regulate the cryptocurrency industry for the first time in the United States, and progress toward a Senate vote itself could be an important signal for the industry.

The remaining variable is time. The Senate's remaining deliberation period is reported to run through the first week of August. With the deadline tight, delays in releasing the bill text and the voting schedule could affect legislative speed. Still, officials believe that if the time for coordination before disclosure becomes longer, the chances of a bipartisan agreement could increase.

If it passes the Senate, the bill goes back to the House of Representatives. It would then go through procedures to become law after Trump's signature. In recent prediction markets, the probability of the bill being enacted within the year had fallen to the 30 percent range, but the ethics-clause agreement has reduced some of the key uncertainty at the Senate stage. Attention now turns to when the text is released, the timing of a Senate floor vote, and the speed of political coordination extending to a revote in the House.