Republicans Deliver Final CLARITY Act Text Ahead of Tuesday Vote

Senate Republicans released a 635-page revised CLARITY Act proposal on Sunday. The document serves as the final legislative offer before a procedural vote scheduled for Tuesday at 2:15pm ET. This step determines whether the Senate can move the bill toward floor consideration.

The text incorporates 126 changes requested by Democrats over a year of negotiations. It includes new ethics provisions that President Donald Trump has voluntarily agreed to support. These rules target the financial interests of federal officials in digital assets.

Strict Ethics Rules Define New Penalties

Covered individuals must divest significant financial interests or place them in a qualified blind trust. State attorneys general gain authority to enforce bans on officials issuing or sponsoring digital assets. Exchanges listing assets in violation of these bans face legal action.

Violations carry civil penalties of $500,000 or 20% of the amount received in the prohibited transaction. The higher of the two amounts applies. These ethics provisions take effect 360 days after enactment, or sooner if implementing regulations are finalized.

Stablecoin Yield Restrictions Extend Treasury Authority

The Treasury Secretary must introduce rules restricting rewards if community banks lose deposits on a substantial scale. This authority expires 18 months after the bill becomes law. The provision aims to protect traditional banking infrastructure from digital asset competition.

Blockchain Regulatory Certainty Act Expands Protections

The revised Blockchain Regulatory Certainty Act extends protections to miners and validators. These groups were previously excluded from safeguards against being treated as money transmitters. The text also removes references to Section 1960 of Title 18 of the US Code.

The changes strengthen safeguards around affiliate trading and conflicts of interest at digital commodity exchanges. Consumer protection laws now have clarified application to these entities. Cointelegraph notes that this final text represents the culmination of intense bipartisan negotiations.