Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC CLARITY bill welcomes latest amendment: Will Democrats ultimately support this encryption bill?
As Senate Republicans secured enough Democratic support for Tuesday's procedural vote on the cryptocurrency market structure bill, the high-profile CLARITY Act (stablecoin clarity and regulatory transparency act) is once again welcoming a new round of revisions. The latest version is 635 pages long and contains an ethics framework backed by President Donald Trump that would restrict public officials from issuing or sponsoring digital assets. The revised text allows the Department of Justice (DOJ) and state attorneys general to share the authority to enforce the rules.
last-minute revision
This change solves one of the main issues raised by Democrats during the negotiations. Previously, Democrats had opposed arrangements for the Justice Department to be responsible for enforcing ethics provisions. The debate over the rule also stems from concerns about Trump and his family's financial involvement in the crypto space.
Cynthia Lummis, chair of the Digital Assets Subcommittee of the U.S. Senate Banking, Housing and Urban Affairs Committee, said: "After a year of intense bipartisan daily negotiations, the bill is ready. President Trump voluntarily agreed to unprecedented moral restrictions, requiring all federal election officials, judges and their spouses to abide by the strictest moral rules in U.S. history... Democrats got what they wanted; now they need to accept 'yes' as the answer."
The ethics chapter draws heavily on the Tillis-Gallego proposal. It stipulates that officials will either sell substantial crypto-related financial assets or transfer them into blind trusts.
Amendments to the Blockchain Regulation Definiteness Act (BRCA) now limit its scope to the Bank Secrecy Act and civil enforcement. Language that would have extended protection to criminal proceedings, including cases brought under section 1960, has been removed. These changes also include miners and validators under protection.
Other key details
The stablecoin earnings section of the bill has also been revised to introduce the "circuit breaker mechanism" first proposed by Tillis in July. If stablecoins cause large-scale withdrawals from community banks, federal regulators will gain the ability to intervene.
In addition, stricter vertical integration restrictions have been introduced, such as rules covering connected transactions and potential conflicts of interest involving digital commodity exchanges, brokers and dealers. The text also confirms that state consumer protection laws remain in effect. Developer protection clauses will not override derivatives regulation, nor will they change the regulatory rules of the prediction market.
Last week, Coinbase CEO Brian Armstrong expressed support for the CLARITY Act before the Senate vote. In an interview with CNBC's Squawk Box Asia on September 10, he said the bill was ready for approval and claimed to have support from law enforcement, banks and crypto companies. He also said that after the company had previously raised a number of issues deemed crucial, its main concerns had been addressed in legislation.
