US Senate Unveils Final Cryptocurrency Bill with Tougher Ethics Provisions
The US Senate has unveiled the final text of the Digital Asset Market Clarity Act, a sweeping cryptocurrency market bill aimed at establishing federal rules for cryptocurrency markets and dividing regulatory responsibilities among US agencies.
The revised draft includes 126 substantive changes requested by Democrats and adds ethics provisions covering federally elected officials, judges, and their spouses. It also gives state attorneys general a role in enforcement.
The bill would grant the Treasury secretary new authority to prevent deposit flight linked to payment stablecoins and proposes safeguards governing affiliate trading and conflicts of interest. Other provisions clarify the application of state consumer-protection laws and seek to shield software developers from certain money-transmission registration requirements.