Last-Minute Changes to the CLARITY Act: Will Democrats Finally Back the Crypto Bill?

Senate Republicans unveiled major CLARITY Act changes, which include crypto divestment rules and new enforcement powers for federal and state officials.

The CLARITY Act has received another round of changes as Senate Republicans try to secure enough Democratic support for Tuesday’s procedural vote on the cryptocurrency market structure bill.

The latest version, which consists of 635 pages, includes an ethics framework backed by President Donald Trump that would restrict public officials from issuing or sponsoring digital assets. The revised text allows both the Department of Justice (DOJ) and the state attorneys general authority to enforce the rules.

Last-Minute Revisions

The change addresses one of the main issues Democrats had raised during negotiations. They had previously objected to an arrangement in which the DOJ would be responsible for enforcing the ethics provisions. The debate over the rules also came from concerns surrounding Trump and his family’s financial involvement in the crypto sector.

US Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis stated,

“After a year of intense daily bipartisan negotiations, this bill is ready. President Trump voluntarily agreed to unprecedented ethics restrictions, holding every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in US history… Democrats got what they wanted; now they need to take yes for an answer.”