Senators Cynthia Lummis, John Boozman, and Tim Scott presented the final version of the cryptocurrency market structure bill (CLARITY Act) before the procedural vote on September 15, 2026. A total of 126 amendments authored by Democrats, including ethical ones, were added to the document. Last week, Lummis presented the previous version of the bill: although it included more than 110 amendments, there were no provisions prohibiting officials from engaging in cryptocurrency business and receiving income from it. The volume of the bill increased from 630 to 635 pages.
"President Trump voluntarily agreed to unprecedented ethical restrictions, providing some of the toughest ethical standards in US history for all federal elected officials, judges, and their spouses. This text is truly bipartisan and includes more than 120 items included at the request of Democrats," Lummis stated. According to her, opposing the initiative in the vote on September 15 means opposing reforms, voluntarily relinquishing American leadership in the field of crypto assets, and attempting to leave ordinary Americans without protective measures in this market.
In addition to norms concerning DeFi, the updated draft predominantly included ethical amendments from the package of Senators Thom Tillis and Ruben Gallego. The document also introduced: the possibility for the US Treasury to impose restrictions in case of significant outflows of deposits from small banks to stablecoins; no obligation for miners, validators, and software developers to register as financial intermediaries; significant strengthening of CFTC measures to counter conflicts of interest between affiliated companies.
The document indicates that high-ranking officials and heads of state will be prohibited from retaining a significant stake in companies whose primary source of income is related to the issuance or promotion of digital assets. The threshold for such a stake was lowered to $15,000. Assets will have to be sold or placed in a blind trust. The restrictions apply not only to the issuance of their own tokens but also to their paid promotion, licensing of names, or receiving income from related operations. The rules will affect current and elected presidents, vice presidents, members of Congress, federal judges, and their spouses. State attorneys general will also receive a mechanism to monitor compliance with these requirements.
Simultaneously, lawmakers have increased penalties: instead of the previous 10% of the received remuneration or $500,000, the violator may face a fine of 20% or $500,000, depending on which amount is greater. Additionally, the final text removed the provision that these restrictions would automatically cease to be in effect in January 2029. The new rules will become permanent unless Congress changes them separately.
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