OP Ed: No One Should Profit From the Rules They Write: Congress must vote NO on the CLARITY Act

By: Royal Anderson, chair of the Muscogee County Democratic Committee

Americans are getting tired of watching one set of rules apply to the powerful and another set apply to everyone else. Whether it's special interests securing favorable treatment in Washington or politicians enriching themselves while serving in office, public trust in government has been steadily eroding. Americans have little faith that Washington is working for them. Confidence in Congress remains near historic lows, and Gallup polling has found that Americans believe major donors wield far more influence over lawmakers than constituents.

 That is why Congress cannot afford to ignore the glaring ethical problems surrounding the CLARITY Act. The CLARITY Act, which is currently being debated in Congress, is intended to establish a regulatory framework for the cryptocurrency industry. Clear rules for digital assets are needed. Investors deserve protections, markets need certainty, and innovation should occur within a well-defined legal structure.

 Despite the need for regulation, there is one major problem: the legislation fails to adequately address conflicts of interest involving elected officials and their families.

 When lawmakers, elected officials, or appointees regulate industries in which they have a direct financial stake, Americans have no way of knowing whether policy decisions are being made for the public good or for private gain. That uncertainty alone undermines confidence in our institutions. And when billions of dollars are involved, the stakes become even higher.

 No family illustrates this problem more clearly than the Trumps.

 Since returning to office, President Donald Trump and his family have reportedly generated $2.3 billion through cryptocurrency investments while his administration and Congress work to shape the rules overseeing the industry. That creates an unprecedented conflict between public power and private financial gain. Americans should never have to question whether policy decisions are being made in the public interest or to benefit those in positions of power. No president, cabinet official, member of Congress, or immediate family member should be allowed to profit from industries they are actively regulating. 

 That is why Senators Jon Ossoff and Raphael Warnock should oppose the CLARITY Act unless it includes meaningful ethics safeguards. Any final legislation should prohibit elected officials and their immediate family members from financially benefiting from crypto assets or companies that could be affected by federal policy decisions. Georgia's senators have consistently stood up for transparency and accountability, and we hope they will continue that leadership by ensuring Congress does not give President Trump, his family, or any future public official an opportunity to profit from policies they help shape.

 The issue before Congress is larger than cryptocurrency. It is about whether Americans can trust that public policy is being written for the public's benefit rather than for political insiders, wealthy investors, or the family of a sitting president. Congress now has an opportunity to demonstrate that public service still means serving the public. As the CLARITY Act moves forward, Georgians will be watching closely to see whether their elected leaders demand the accountability and ethical standards the American people deserve.