The 635-page revised proposal includes Trump-backed ethics provisions and comes just two days before a key procedural vote. Senate Republicans on Sunday released revised text of the CLARITY Act aimed at swaying Democrats ahead of a procedural vote on Tuesday, featuring major changes to rules relating to government officials’ involvement with digital assets. The 635-page proposal, released by US Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis alongside Chairmen John Boozman and Tim Scott, also includes changes to the Blockchain Regulatory Certainty Act (BRCA) and provisions governing stablecoin yield. Lummis said the new ethics provisions had been agreed to by US President Donald Trump. “After a year of intense daily bipartisan negotiations, this bill is ready,” she said. “President Trump voluntarily agreed to unprecedented ethics restrictions, holding every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in US history.” Read more
Secretary Scott Bessent warned that failing to pass the CLARITY Act would send a “troubling signal” about America’s leadership in the digital asset industry. US Treasury Secretary Scott Bessent urged lawmakers to pass the Digital Asset Market Clarity (CLARITY) Act when the Senate returns from its August recess next week. “I strongly urge everyone to remain at the negotiating table, agree to the motion to proceed, and continue the legislative process,” wrote Bessent in a Wednesday X post, warning that failing to pass the bill would send a “troubling signal” about America’s leadership in the digital asset industry. The Senate is scheduled to return from its August recess next Monday, according to its legislative schedule. The CLARITY Act seeks to establish the first comprehensive regulatory framework for digital assets in the US. Read more
The US Senate has a limited window to pass a crypto market structure bill, but if it were to fail, the legislation could be completely remade or scrapped under Democrats in 2027. With lawmakers in the US Senate set to consider legislation pushed by many in the cryptocurrency industry for regulatory clarity, there’s a limited window for the bill to become law, potentially delaying it into the next session of Congress with different politics in play. The US Senate is scheduled to return to session on Monday after more than a month in which lawmakers were on state work periods. Senator John Thune, the Republican majority leader in the chamber, has scheduled a cloture vote on the Digital Asset Market Clarity (CLARITY) Act for Tuesday, in which his compatriots will need support from a handful of Democrats to meet the 60-vote threshold and overcome a filibuster. Should the bill fail to advance with a three-fifths supermajority, the Senate will have less than 36 days of business before 2027, when a new session of Co...
Despite earlier opposition to the CLARITY Act over consumer protection, the National Sheriffs’ Association says it will now “step back and allow the legislative process to proceed.“ The National Sheriffs’ Association (NSA) has dropped its opposition to a cryptocurrency market structure bill scheduled for a vote later this month when the US Senate returns to session. In a Thursday letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, the US law enforcement group said that it was changing its position on the Digital Asset Market Clarity (CLARITY) Act to “neutral.” The NSA cited the “significant work undertaken by Congress, the Administration, and stakeholders to navigate the many legal, regulatory, and enforcement considerations involved” in addressing the bill. “At this time, we believe the most appropriate course is to step back and allow the legislative process to proceed to establish a clear, effective, and much needed regulatory framework,” said NSA president Troy Wellman and CEO a...
Michael Selig said at a meeting of the Innovation Advisory Committee that he had directed CFTC staff to explore developer protections and other crypto-related policies. Michael Selig, who chairs the US Commodity Futures Trading Commission (CFTC), signaled that the agency would not be idle while Congress continued to debate provisions in a cryptocurrency market structure bill. In prepared remarks for the inaugural meeting of the CFTC’s Innovation Advisory Committee on Thursday, Selig said that the commission would move forward on crypto regulations even in the absence of the Digital Asset Market Clarity (CLARITY) Act being passed by lawmakers, adding it would “help [Donald Trump] deliver if Congress will not.” According to the chair, he had already directed staff to allow registered and non-registered entities to offer “crypto asset trading on a leveraged or margined basis” and explore developer protections. “We’re going to give CLARITY its breathing room for a vote, but if the Democrats cannot support a bipar...
Donald Trump spoke from the White House on Wednesday, urging the Senate to pass a crypto market structure bill to keep the country “ahead of China.” Update (Aug. 19, 8:55 pm UTC): This article has been updated to include comments from Senator Ruben Gallego at the Wyoming Blockchain Symposium. US President Donald Trump continued to push for passage of a crypto market structure bill as the Senate remains in recess. In a Wednesday press conference with crypto company executives including Coinbase CEO Brian Armstrong and Gemini co-founders Cameron and Tyler Winklevoss, Trump said members of Congress should pass “a fair version” of the Digital Asset Market Clarity (CLARITY) Act to keep the US “ahead of China.” The market structure bill, passed by the House of Representatives in July 2025, has been stalled in the Senate for months amid concerns about tokenized equities, stablecoin rewards and the Trump family’s potential conflicts of interest with the crypto industry. Read more
The proposed rules from the US securities regulator would provide companies with a safe harbor from tokens being treated as “investment contracts” and certain exemptions for token issuance. The US Securities and Exchange Commission (SEC) has proposed new rules that could affect the cryptocurrency industry after lawmakers in Congress failed to pass a market structure bill before breaking for a month-long recess. In a Tuesday notice, the SEC said that the agency proposed rules to create a “clear and fit-for-purpose framework for certain investment contracts involving crypto assets.” According to the regulator, the “tailored securities offering regime” would allow entities to raise capital while preserving investor protections. The agency’s rules did not include an “innovation exemption” for crypto-based stocks, which had also been expected to be announced. Notably, the proposed rules came just days after the US Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act, a bill expected to clarify t...