Senate Republicans Release Final CLARITY Act Text Ahead of Tuesday Vote

Highlights:

• Senate Republicans released the final CLARITY Act text, bringing fresh changes to ethics, stablecoins and crypto trading.
• Trump agreed to most of the new ethics plan, including tougher rules for officials holding crypto assets.
• The bill also adds new stablecoin safeguards and tighter rules for developers, exchanges, brokers and dealers.

Senate Republicans have released the final CLARITY Act text ahead of a key vote scheduled for Tuesday. The latest version includes new changes covering crypto ethics, stablecoin rewards, developer protections and digital commodity trading. Crypto journalist Eleanor Terrett shared the update on September 14. She said Republicans are calling the proposal their “last, best and final” offer to Democrats before the September 15 cloture vote.

Senators Cynthia Lummis, John Boozman and Tim Scott also announced the final text on September 14. According to their statement, the latest version includes several changes made after months of negotiations between lawmakers. The cloture vote will decide whether the Senate can move the bill forward for further debate.

🚨NEWS: Senate Republicans have released new Clarity Act text featuring a revised ethics proposal agreed to by President Trump.

The text also contains changes to the sections on the Blockchain Regulatory Certainty Act (BRCA), stablecoin yield, and the so-called “Ag title.”…

— Eleanor Terrett (@EleanorTerrett) September 14, 2026

Trump Agrees to New Crypto Ethics Proposal

One of the biggest updates involves ethics rules. Terrett said President Donald Trump agreed to around 80% of the Tillis-Gallego ethics proposal, according to a Republican aide. Under the latest language, covered officials with substantial crypto-related financial interests would need to sell those holdings or place them in a blind trust.

The proposal would also allow state attorneys general to help enforce some of the ethics rules. The White House had previously raised concerns about giving states this role. The Senate summary also includes financial penalties for violations. In some cases, the civil penalty could reach 20% of the money linked to a prohibited transaction or $500,000, whichever amount is higher. Lummis said the updated proposal includes major ethics restrictions and reflects months of negotiations over the bill.

Stablecoin Rewards Get New Safeguard

The final CLARITY Act text also changes the rules around stablecoin rewards. Lawmakers added a “circuit breaker” to protect community banks if customers begin moving large amounts of deposits into stablecoins. Under the proposal, federal regulators could step in if evidence shows widespread deposit flight from community banks.

Terrett said Treasury Secretary Scott Bessent would make the final decision on whether that condition had been reached. The safeguard could then allow regulators to restrict certain rewards offered to stablecoin holders. Senator Thom Tillis first discussed the provision in July.

Final CLARITY Act Brings Changes to BRCA and Digital Commodity Rules

The Blockchain Regulatory Certainty Act, or BRCA, was also revised. The latest version keeps protections linked to Bank Secrecy Act requirements and civil enforcement. However, it removed language extending those protections to criminal cases under Section 1960.

The bill also adds tighter rules around digital commodity businesses. The updated text includes new limits on affiliate trading and possible conflicts of interest involving digital commodity exchanges, brokers and dealers. It also makes clear that state consumer protection laws still apply. Developer protections would not exempt prediction markets from derivatives laws or change their legal treatment.

The CLARITY Act aims to clarify rules for the U.S. crypto industry and define how digital asset oversight should work at the federal level. The next major test comes on September 15, when senators are expected to vote on whether the legislation should move forward.