US Senate Republicans released on Sunday the revised text of the CLARITY Act, a 635-page proposal described as a final offer two days before a crucial procedural vote scheduled for Tuesday at 2:15pm ET. The text was drafted by Senators Cynthia Lummis, John Boozman and Tim Scott with the backing of President Donald Trump, who agreed to unprecedented ethics restrictions. The bill includes 126 changes made at Democrats’ request, including rules banning federal officials from holding significant financial interests in digital assets, with civil penalties of $500,000 or 20% of the prohibited transaction amount. The revised Blockchain Regulatory Certainty Act also extends legal protections to miners and validators, while the Treasury Secretary may restrict stablecoin rewards if community banks suffer substantial deposit losses.
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