3 weeks ago
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Key Takeaways
- The ethics section adds state-level enforcement.
- Covered officials face divestment or blind trusts.
- Penalties could exceed $500,000 per violation.
- Stablecoin reward limits require a Treasury finding.
- Tuesday’s vote would not pass the bill.
The revised draft is built around the vote’s main obstacle
Sens. Cynthia Lummis, John Boozman and Tim Scott released a new ‘final’ draft announcement for the Digital Asset Market CLARITY Act on September 14. The Republican sponsors say the version includes 126 substantive changes requested by Democrats during negotiations.
The changes most relevant to Tuesday’s vote concern ethics enforcement. Rules for federal officials’ crypto interests had become one of the main obstacles to moving the broader market-structure bill, alongside disputes over stablecoins, banking and regulatory authority.
English (US)