The crypto industry saw significant developments today, with a key US law enforcement organization dropping its opposition to the CLARITY Act, President Donald Trump defending his crypto-related earnings, and US spot Bitcoin ETFs recording their largest daily inflows in nearly two months.
Law Enforcement Group Withdraws Opposition to CLARITY Act
The Major County Sheriffs of America (MCSA) has shifted its position on the CLARITY Act from opposition to neutral after lawmakers addressed concerns surrounding Section 604 of the bill. The provision protects blockchain developers from liability for illicit activities carried out by users on decentralized platforms.
The change removes a key obstacle for the legislation, which continues to receive bipartisan backing. However, the bill still faces delays in the Senate as banking groups lobby against stablecoin yield provisions. Lawmakers are aiming to pass the CLARITY Act before the US midterm elections.
Trump Defends $1.4 Billion in Crypto Income
US President Donald Trump has defended earning approximately $1.4 billion from crypto-related ventures while in office, stating there is “nothing wrong” with the profits.
His latest financial disclosure revealed that digital assets accounted for the majority of his reported 2025 income, driven by revenue from the TRUMP memecoin, World Liberty Financial, and a stablecoin project. Trump dismissed conflict-of-interest concerns, saying his investments are managed independently despite ongoing congressional debate over crypto regulation.
US Spot Bitcoin ETFs Record Strongest Inflows Since May
US spot Bitcoin ETFs attracted $221.7 million in net inflows, marking their strongest single-day performance since early May and ending a 10-day outflow streak.
The recovery follows record ETF withdrawals in June and coincides with Bitcoin climbing back above $62500. The renewed institutional demand has boosted optimism that the recent market correction may be nearing its end, even as overall market sentiment remains in the “Extreme Fear” zone.
