Senate Republicans Release Revised CLARITY Act with Ethics Rules
Senate Republicans released a revised version of the CLARITY Act, a bill aimed at regulating digital commodities. The new text includes ethics rules supported by President Donald Trump that restrict public officials from engaging in digital assets.
The revisions also address Democratic concerns and include provisions on enforcement, stablecoin yields, and digital-asset market operations. The bill would give the Commodity Futures Trading Commission (CFTC) responsibility for regulating digital-commodity transactions, while the Securities and Exchange Commission (SEC) would retain jurisdiction over certain activities.
Coinbase CEO Brian Armstrong voiced support for the CLARITY Act ahead of a September 15 procedural vote. The bill has undergone intense bipartisan negotiations, with Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis describing it as 'ready' and arguing that Democrats have received the concessions they sought.