Clarity Act Faces Fresh Obstacle as Senators Push Revised Compromise

US senators Thom Tillis and Ruben Gallego have submitted a new compromise on the Clarity Act, a major cryptocurrency market structure bill. The revised draft aims to address concerns over President Donald Trump's crypto ties by updating ethics provisions.

The latest version bars public officials and spouses from issuing or sponsoring digital assets, grants enforcement power to the Justice Department, and includes a sunset clause ending restrictions in January 2029. However, critics argue that this provision undermines the ethics section, as enforcement would remain under Trump's attorney general while he is president.

The Clarity Act still lacks sufficient Senate votes and faces bipartisan resistance over ethics and stablecoin rewards. Lawmakers are trying to move the bill through the Senate before its recess on August 7, but a vote before the end of next week appears unlikely.