US Republicans Release Revised Clarity Bill with Trump-Approved Ethics Provision

The US Senate Republicans announced the release of a new draft of the Clarity Act, which includes an amended ethics provision that former President Donald Trump has endorsed, according to Crypto in America host Eleanor Tetter. The revised bill incorporates blockchain regulatory clarity legislation, stablecoin yield provisions, and agricultural-related clauses. The Republican group characterized this updated proposal as their 'last and best final offer' to Democrats.

Notably, the ethics provision reportedly incorporates about 80% of a clause proposed by Senator Tom Tillis that President Trump accepted. This includes measures aimed at resolving or placing significant cryptocurrency-related financial interests under blind trust. The White House, which previously opposed it, now allows for enforcement authority over ethics regulations by state attorneys general.

Regarding stablecoin yields, the bill adds a 'circuit breaker' clause enabling federal intervention if large-scale deposits shift from regional banks to stablecoins, with final decision-making authority granted to the Treasury Secretary.