Republican senators introduced the final draft of the CLARITY Act on September 14, incorporating 126 changes requested by Democrats. President Donald Trump has agreed to the updated terms, which impose stricter ethics requirements on government officials regarding crypto-related activities.
The legislation mandates that officials and their spouses divest from digital assets or transfer them to a qualified blind trust. State prosecutors are granted authority to enforce these rules through court actions. The bill also allows for direct lawsuits against crypto intermediaries that list prohibited assets.
The draft includes provisions for the Treasury Department to restrict rewards for stablecoin holders if significant bank deposit outflows are detected. These specific powers are set to expire 18 months after the law is enacted. Additionally, the bill adjusts the Blockchain Regulatory Certainty Act to include protections for miners and validators.
The Senate scheduled a procedural vote for September 15, requiring 60 votes to move forward. Despite ongoing negotiations, supporters had not secured the necessary number of votes by September 11. Analysts and prediction markets remain skeptical about the bill's passage before the November elections or even by the end of 2026.
