Critics expressed concern that the Clarity Act does not prevent President Trump and other top officials from financially benefiting from crypto business interests.

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Others remain concerned that the legislation doesn't directly block senior government officials — most notably President Donald Trump — from personally benefiting from crypto business interests.

The Clarity Act has hit a few snags since being introduced last month. Trump's involvement with crypto from the debut of Trump-backed World Liberty Financial and later the launch of its own stablecoin, to the president's decision to put forward a memecoin and host a dinner for the top holders, has repeatedly drawn scrutiny from Democrats.