- Senate Republicans released a revised 635-page CLARITY Act text, incorporating ethics rules President Trump voluntarily agreed to, ahead of a procedural vote Tuesday.
- The bill bars federal officials and judges from holding or sponsoring digital assets, enforced by state attorneys general, with civil penalties of $500,000 or 20% of the transaction value.
- New stablecoin provisions require the Treasury Secretary to restrict rewards if community banks lose significant deposits, while the Blockchain Regulatory Certainty Act now protects miners and validators from being treated as money transmitters.
- Polymarket odds for the CLARITY Act becoming law in 2026 reached 35% on Monday, the highest level since late July, according to data.
Senate Republicans on Sunday released revised text of the CLARITY Act, aiming to sway Democrats ahead of a procedural vote on Tuesday at 2:15 pm ET. The 635-page proposal, released by Senator Cynthia Lummis alongside Chairmen John Boozman and Tim Scott, includes major ethics changes President Trump agreed to.
“After a year of intense daily bipartisan negotiations, this bill is ready,” Lummis said, calling the restrictions unprecedented for elected officials, judges, and their spouses. The revised ethics rules allow state attorneys general to enforce bans on federal officials issuing, sponsoring, or holding significant digital asset interests, with civil penalties of $500,000 or 20% of the prohibited transaction amount.
Meanwhile, the stablecoin section requires the Treasury Secretary to introduce rules restricting rewards if community banks experience substantial deposit losses. The authority would expire 18 months after enactment, according to the bill text.
On the regulatory front, the revised Blockchain Regulatory Certainty Act now extends protections to miners and validators, previously excluded from rules shielding developers from being treated as money transmitters. The bill also removes references to the prohibition of unlicensed money transmitting businesses.
Consequently, the proposal has been described as a final offer by a Republican aide, as reported. Despite the tight timeline, Polymarket odds for passage this year reached 35% on Monday, their highest level since late July.
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