The revised CLARITY Act has been officially released, prohibiting the president and government officials from issuing or sponsoring crypto assets for profit.

Crypto journalist Eleanor Terrett reported that U.S. Senate Republicans have released a revised version of the CLARITY Act following a briefing call with industry stakeholders. The ethics framework in the revised bill was developed by the White House in consultation with Republican Senators Cynthia Lummis and Bernie Moreno, and has not yet secured Democratic backing. The new text would bar U.S. officials—including the president, vice president, members of Congress, federal judges—and their spouses from earning compensation during their terms via issuing or sponsoring digital assets; these provisions are set to expire on January 20, 2029. Covered officials must sell their crypto assets and investments in crypto firms, or place them in blind trusts over which they have no control, with sales of crypto assets exceeding $1,000 requiring disclosure. The U.S. Department of Justice would be granted civil enforcement authority for ethics violations, including prosecuting trading platforms that knowingly operate banned tokens. However, Democrats oppose granting the DOJ sole enforcement power without extending authority to state attorneys general, and the relevant provisions could still be adjusted in the coming days. The revised bill retains the BRCA and Keep Your Coins Act, clarifying that non-custodial software developers and blockchain infrastructure providers will not be classified as money transmitters solely for maintaining decentralized networks, while safeguarding individuals’ right to self-custody of crypto assets. Stablecoin provisions remain unchanged: interest on idle payment stablecoin balances is banned, but rewards tied to actual activities like trading or staking are permitted.