- CLARITY Act negotiators say their final proposal includes 126 substantive changes requested by Democrats.
- Patrick Witt urges passage after Republicans announce revised ethics restrictions accepted by Trump.
- Tuesday’s procedural vote requires 60 senators, with further legislative steps needed before enactment.
Senate Republicans released their final CLARITY Act proposal with revised ethics restrictions and stablecoin safeguards before Tuesday’s procedural vote. Senators Cynthia Lummis, John Boozman and Tim Scott said the draft includes 126 substantive changes requested by Democrats.
President Donald Trump accepted revised ethics provisions, according to Republican negotiators. The package seeks to resolve disputes that have delayed the crypto legislation.
CLARITY Act Ethics Deal Draws White House Support
According to the senators’ announcement, the revised package reflects most of the bipartisan Tillis-Gallego ethics proposal. It gives state attorneys general a role in enforcing restrictions involving public officials.
The reported language does not extend equivalent restrictions to officials’ children. Trump’s family business interests have fueled Democratic concerns about conflicts involving cryptocurrency policy.
Patrick Witt, executive director of the White House Council of Advisors for Digital Assets, urged senators to pass the CLARITY Act. He said Republican negotiators and the White House had responded to Democratic policy requests throughout the talks.
“After more than a year’s worth of negotiations, it’s time to pass this bipartisan bill,” Witt wrote on X.
Stablecoin Safeguards Face a Crucial Senate Vote Test
The CLARITY Act would authorize Treasury intervention if payment stablecoins trigger substantial deposit withdrawals from community banks. This proposed circuit breaker addresses concerns that stablecoin rewards could undermine local lending.
Other revisions narrow developer protections to civil matters, removing language that could shield conduct from criminal prosecution. Additional guardrails address affiliate trading and conflicts involving digital commodity exchanges, brokers and dealers.
The proposal also preserves state consumer protections and clarifies that developer safeguards do not override derivatives regulation.
Tuesday’s CLARITY Act vote concerns cloture on the motion to proceed and requires 60 votes. With 53 Republican seats, unanimous GOP support would still require seven Democrats or independents.
Republicans would then offer the revised text as a substitute amendment. Final Senate passage and House consideration would require further action.
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