The CLARITY Act is flawed and needs improvement to shore up loopholes.

I urge you to fix the critical ethics and consumer protection loopholes in the Digital Asset Market CLARITY Act before a final vote ahead of the August recess. As drafted, the bill fails to prevent executive self-enrichment. President Trump's crypto ventures are run by his adult sons, Don Jr. and Eric, yet the bill restricts only officials and spouses—leaving open the exact loophole through which his family's crypto fortune flows. His reported income surged from $620 million in 2024 to $2.2 billion in 2025, with $1.4 billion from crypto alone. The bill compounds this by allowing pre-existing projects to continue using an official's name and likeness post-divestment, and letting ethics rules expire in 2029. Enforcement falls to Acting AG Todd Blanche, the President's former defense lawyer—and this isn't hypothetical. Blanche's DOJ has already disbanded its National Cryptocurrency Enforcement Team, a retreat Senator Dick Durbin pressed him on directly at his confirmation hearing. A conflict rule enforced by a Justice Department that has already been instructed to stand down on crypto cases is no check at all. Beyond executive conflicts, Consumer Reports warns the bill shifts oversight from the SEC to the CFTC, an agency lacking a consumer protection mandate. Reclassifying tokens that function like securities strips away vital disclosure requirements and investor protections. Senators Thom Tillis and Ruben Gallego proposed letting state attorneys general independently enforce ethics violations, a real fix for the DOJ enforcement problem. Yet that proposal remains stalled while the White House delays a response as the recess deadline closes in. I urge you to push for a response and support this stronger language. I urge you to vote NO on the CLARITY Act unless amended to: 1. Extend Ethics Rules: Apply prohibitions and divestment requirements to immediate family members and affiliated entities, not just spouses. 2. Close Ethics Exceptions for Existing Projects: Prohibit pre-existing commercial token ventures from using an official's name or likeness after divestment. 3. Remove Sunset & Ensure Independent Enforcement: Strip the 2029 expiration date and adopt the Gallego-Tillis proposal granting state AGs independent authority to enforce ethics violations. 4. Protect Investors: Preserve SEC authority and mandatory disclosures for tokens functioning as securities rather than shifting them to the CFTC. 5. Mandate BSA/AML Rules: Enforce strict Anti-Money Laundering and Bank Secrecy Act compliance across all decentralized protocols and issuers. Please vote no on any bill that leaves these loopholes open for special interests and the first family while leaving ordinary consumers unprotected.