US Republicans send ‘final’ CLARITY Act offer to Democrats
The 635-page revised proposal includes Trump-backed ethics provisions and comes just two days before a key procedural vote.
The 635-page revised proposal includes Trump-backed ethics provisions and comes just two days before a key procedural vote.
Senate Republicans on Sunday released revised text of the CLARITY Act aimed at swaying Democrats ahead of a procedural vote on Tuesday, featuring major changes to rules relating to government officials’ involvement with digital assets.
The 635-page proposal, released by US Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis alongside Chairmen John Boozman and Tim Scott, also includes changes to the Blockchain Regulatory Certainty Act (BRCA) and provisions governing stablecoin yield. Lummis said the new ethics provisions had been agreed to by US President Donald Trump.
The revised ethics rules would allow state attorneys general to enforce bans on federal officials issuing, sponsoring or holding significant financial interests in digital assets, and on exchanges listing assets in violation of those bans.