Republican senators in the U.S. Senate release a revised version Clarity LegislationThere are less than 48 hours left until the procedural vote that will determine whether to proceed with the bill. The new text includes over 120 amendments, with a focus on adding provisions regarding public office ethics and conflicts of interest restrictions. As a result, the market has also raised its expectations for this crypto legislation to be enacted within the year.
Procedural voting is approaching.
If the bill is ultimately passed, it will establish a federal regulatory framework for more crypto assets to enter the mainstream financial system. This bill is currently one of the most closely watched crypto legislative initiatives in the U.S. Congress, and Senate Republicans need cross-party support to move it forward.
According to the current seating situation, the Republican Party needs to obtain 60 votes, which means they still need to win the support of at least 7 Democratic members. As the mid-term elections approach, the time available for Congress to process legislation is decreasing, making this procedural vote particularly crucial.
- Polymarket The probability of becoming legal within the year rises to 30%
- At the beginning of the month, this value was approximately 14%.
- Kalshi once rose to around 64%, before falling back to 53%
New restrictions on officials issuing coins
The revised draft proposes to permanently prohibit presidents, vice-presidents, members of Congress, federal judges, aspiring elected officials, and their spouses from creating or sponsoring digital assets in exchange for compensation. This is one of the most notable additions in this round of revisions.
The draft also requires that if officials hold company equity valued at at least $15,000, and if a significant portion of the relevant company's income comes from the issuance of crypto assets, these officials must sell their holdings or transfer them to a blind trust.
Compared to previous versions, the new text removes the expiration date stipulation for conflicts of interest restrictions, making them permanently valid. Additionally, attorneys general in each state will be allowed to file civil lawsuits against officials who violate these regulations.
Trump Approves Amendment to Terms
U.S. Senator Cynthia Lummis stated on social media that the requirements previously proposed by the Democratic Party have been incorporated into the revised draft, and now they should support the continuation of the bill's progress. She also mentioned that Trump has approved these new ethical provisions.
This modification is also related to the Trump family's expansion in the cryptocurrency business in recent years. According to information disclosed in 2025, the Trump family reported earnings from cryptocurrency business exceeding $1.4 billion, of which about 45% came from the meme coin project that was launched a few days before he took office.
Apart from the meme coin, the Trump family has also launched a decentralized finance platform called World Liberty Financial, and participated in the establishment of a listed Bitcoin mining and treasury company named American Bitcoin Corp. Whether the new version of the bill can secure enough votes from Democrats will depend on whether these ethical provisions can alleviate external concerns.
