The CLARITY Act, a comprehensive digital asset regulatory bill, has been updated with 126 changes requested by Democratic lawmakers. The final draft of the legislation now spans 635 pages as it approaches a Senate cloture vote.
New ethics provisions prohibit senior government officials and presidents-elect from holding equity interests worth $15 000 or more in token-issuing companies. Assets must be divested or placed in a blind trust to comply with these rules.
The bill introduces a Treasury circuit-breaker mechanism to regulate stablecoin yields. Issuers are restricted from offering passive yields, limiting rewards to those based on specific user activities like liquidity provision.
Analysts at Bernstein suggest these adjustments could secure the necessary Democratic support to pass the bill. Prediction markets have responded to the updated draft, with support odds for the legislation rising above 30%.
