Senate Republicans have released a substantially revised Clarity Act, adding more than 120 changes including permanent ethics restrictions for senior public officials, in an effort to secure support for the cryptocurrency bill.
The amended legislation was published less than 48 hours before a crucial procedural vote on whether to advance it. Republicans need 60 votes in the Senate, meaning at least seven Democrats must back the measure.
The bill would create a framework for bringing more crypto assets into mainstream finance. It passed the House last year but has struggled to gain final congressional approval, with disagreements over conflicts of interest emerging as a central obstacle.
Clarity Act includes permanent ethics restrictions
Under the revised text, the president, vice president, members of Congress, federal judges, incoming elected officials and their spouses would be permanently barred from creating or sponsoring digital assets in exchange for payment.
Officials holding at least $15,000 in equity in companies that receive most of their revenue from issuing crypto assets would also have to sell those investments or place them in a blind trust.
The draft removes an expiry date previously proposed for the conflict-of-interest rules. It would also allow state attorneys general to bring civil cases against officials who breach the restrictions.
Senator Cynthia Lummis, a Wyoming Republican and prominent supporter of cryptocurrency in Congress, said: “Democrats got what they wanted; now they need to take yes for an answer.” She also said Mr Trump had approved the new ethics provisions.
The changes address concerns surrounding Donald Trump’s crypto business dealings. In 2025, he reported more than $1.4 billion in income from his family’s various cryptocurrency ventures, with about 45% attributed to a memecoin launched days before he took office.
His family has also expanded into the sector through World Liberty Financial, a decentralised finance platform, and American Bitcoin Corp., a publicly traded Bitcoin mining and treasury company co-founded by Eric Trump.
Betting markets responded to the revised bill. Polymarket traders raised the probability of the Clarity Act becoming law this year from 14% earlier this month to 30%, while Kalshi’s estimate that it would pass before October 1 briefly reached about 64% before falling back to 53%.
With the midterm elections approaching, lawmakers have a narrowing window to bring the legislation to a vote.
