Legislative Progress: Clarity Act Advances With Temporary Ethics Provision
Senate Republicans have circulated a new draft of the Clarity Act, the long-awaited market-structure bill, that includes a temporary ban on federal officials and their spouses from issuing or sponsoring digital assets. The ethics restriction is set to expire in 2029, and enforcement authority rests solely with the Department of Justice. The bill preserves key pro-crypto provisions, including protections for non-custodial developers, marking ongoing effort to establish a comprehensive regulatory framework for digital assets.
The latest draft represents incremental progress toward Senate passage, though lawmakers remain engaged in debate over the scope and mechanics of the government-ethics component. The sunset clause and DOJ-only enforcement structure reflect political compromise balancing crypto industry interests with ethics concerns raised by some lawmakers.
