Senate Prepares Final Vote on Revised CLARITY Act with Crypto-Focused Provisions

A final version of the CLARITY Act has been presented to Senate Democrats ahead of a procedural vote on September 15. The proposal, which spans 635 pages, contains 126 changes requested by Democratic negotiators and includes new ethics restrictions for federal officials and their families related to digital assets.

The revised language would require covered officials to divest certain 'substantial' crypto-related financial interests or place them in a blind trust, according to Eleanor Terrett's report. President Donald Trump has accepted provisions based on 'substantially all' of an ethics proposal developed by Sens. Thom Tillis and Ruben Gallego.

The Treasury secretary would receive circuit-breaker authority if payment stablecoins trigger widespread deposit flight from community banks under the proposed law. The measure aims to protect community banks and address concerns about stablecoin products drawing deposits away from insured institutions.