BlockBeats report: On July 23, crypto journalist Eleanor Terrett posted that U.S. Republican senators, following a briefing call with industry stakeholders, released a revised version of the CLARITY Act. The ethical framework was developed in consultation with the White House and Republican Senators Cynthia Lummis and Bernie Moreno, and has not yet received Democratic support.
The new text would prohibit presidents, vice presidents, members of Congress, federal judges, and other officials, along with their spouses, from receiving compensation through the issuance or sponsorship of digital assets while in office; these provisions would remain in effect until January 20, 2029. Covered officials would also be required to sell their cryptocurrency assets and investments in crypto companies, or place them in blind trusts over which they have no control; sales of cryptocurrency assets exceeding $1,000 must be disclosed.
The U.S. Department of Justice will gain civil enforcement authority over ethical violations, including the ability to prosecute exchanges that knowingly list banned tokens. However, Democrats oppose granting enforcement power solely to the Department of Justice without extending authority to state attorneys general; these provisions may still be adjusted in the coming days.
The new bill retains BRCA and the Keep Your Coins Act, explicitly stating that non-custodial software developers and blockchain infrastructure providers will not be classified as money transmitters solely for maintaining decentralized networks, and it safeguards individuals' rights to self-custody crypto assets. The stablecoin yield provision remains unchanged, prohibiting interest payments on idle payment-stablecoin balances, while permitting rewards tied to actual activities such as transactions or staking.