Ethics has been the last major obstacle to the Clarity Act, which would create the first comprehensive federal framework for digital assets and split oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The dispute has centered on the extent to which political figures and other officials can profit from crypto while in office, a question sharpened by Trump’s memecoins and his family’s stake in World Liberty Financial, which financial disclosures last month showed earned him millions.The provision was discussed at a July 16 meeting between Trump, Republican Senators Bernie Moreno and Cynthia Lummis,…

In brief Augustus raised $180 million at a $1 billion valuation, led by Tiger Global with backing from the founders of Nubank, Ramp, Circle, and Deel, plus figures like Balaji Srinivasan. Rather than issue its own stablecoin, the firm is building a chartered “Global Dollar Bank” that moves money across both traditional rails. The deal underscores how dollar-pegged stablecoins are becoming mainstream financial infrastructure, backed by Augustus’ conditional OCC national bank charter and framed partly as a counter to China’s digital yuan and Russia’s proposed BRICS Pay. Augustus, a startup building a federally chartered clearing bank designed around stablecoins and…

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