Odaily reports that Tim Scott, Chairman of the U.S. Senate Banking Committee, stated on X platform that it is now time to pass the CLARITY Act. He said the CLARITY Act will protect hard-earned money, keep jobs and innovation in the United States, and strengthen national security. This final text further grants law enforcement greater authority and provides the Treasury Secretary with tools to protect community banks, farmers, and rural Americans.
Previously, U.S. Senate Republicans had released a new version of the CLARITY Act text, and Trump has agreed to approximately 80% of the ethics provisions in the new version of the bill.
Odaily News: This morning, the probability on predict.fun that the CLARITY Act will be signed into law in 2026 rose to 34% (the probability on Polymarket for the same market is 35%).
Earlier reports indicated that, according to crypto journalist Eleanor Terrett, U.S. Senate Republicans have released the text of a new version of the CLARITY Act. The new text involves adjustments to ethics rules, and Trump has agreed to approximately 80% of the content of the new ethics proposal.
Odaily report: A Fox Business crypto reporter posted on X that U.S. Senate Republicans have released a new version of the "Clarity Act" text, which incorporates a revised ethics proposal agreed to by Trump and adjusts provisions related to the "Blockchain Regulatory Certainty Act," stablecoin yield, and the so-called "Ag" section. Republicans called this their "last, best, and final" offer to Democrats ahead of Tuesday's vote to end debate proceedings.
The new text narrows the scope of the "Blockchain Regulatory Certainty Act" to the Bank Secrecy Act and civil enforcement, and removes specific language extending related protections to criminal cases, including prosecutions under Section 1960. The ethics proposal includes requiring Trump to sell "substantial" crypto-related financial interests or place them in a blind trust, and allows state attorneys general to enforce the ethics provisions; the stablecoin yield clause adds a "circuit breaker" mechanism, under which federal regulators can intervene if there is evidence of large-scale flows from community bank deposits into stablecoins, with Treasury Secretary Scott Bessent serving as the adjudicator.
The "Ag" section adds new restrictions on vertical integration, including related-party transactions and conflicts of interest involving digital commodity exchanges, brokers, and dealers, and clarifies that state consumer protection laws still apply; the developer protection clause will not constitute an exemption from derivatives law, nor will it affect prediction markets.
Odaily News: Nate Geraci, President of ETF Store, posted on X platform that if the CLARITY Act can secure enough votes and continue to advance this week, it would constitute a positive boost for the crypto industry, but he believes the future of the crypto industry does not depend on this bill.
He stated that under the Trump administration, the U.S. SEC and CFTC will use existing authority to continue driving the crypto industry forward, while the main role of the CLARITY Act is to further accelerate this process and strengthen market confidence that related innovations will not be easily reversed by future policy changes.
Odaily News: U.S. Senate Majority Leader Chuck Schumer has convened the Senate Democratic caucus for a Sunday evening meeting to discuss the new text of the CLARITY Act that Republican senators circulated on Thursday. The text contains more than 100 amendments reportedly proposed by Democrats.
The Senate will vote on Tuesday on whether to advance the bill through cloture, or to abandon the effort altogether. Democrats remain divided internally over ethics provisions, and community banks also oppose the stablecoin yield-related rules. Most Democratic senators are expected to vote against it.
U.S. President Donald Trump discussed new wording on the ethics provisions with advisers on Friday, as Democrats demand that public officials divest their existing crypto assets. If all 53 Republican senators support the bill, it would need at least 7 Democratic senators to agree to proceed to debate on Tuesday; some Republican senators also oppose the current stablecoin yield provisions. (Bitcoin.com News)
Odaily reports: Bitcoin News posted on X that the U.S. Senate will hold its first procedural vote on the CLARITY Act on Tuesday at 2:15 PM ET. Senator Bernie Moreno urged colleagues to advance the bill, with amendments to be considered thereafter. Congressman Warren Davidson called for the removal of Section 305 before the bill passes, stating that the provision allows exchanges and stablecoin issuers to freeze suspicious transactions for 30 days, or up to 180 days at the request of law enforcement, effectively granting them the authority to carry out "civil asset forfeiture."
Odaily Report: Two people familiar with the matter revealed that U.S. President Trump met with advisers to discuss a government ethics provision being considered for inclusion in the Crypto Market Structure Act (the CLARITY Act). The meeting took place ahead of the Senate's procedural vote next Tuesday, which will determine the fate of the CLARITY Act's advancement. Senate Democrats are demanding that the legislation include ethics language applicable to government officials to limit Trump's ability to profit from his family's crypto business. It remains unclear what the outcome of the meeting was or which advisers attended. The White House did not immediately respond to a request for comment on Saturday evening.
The ethics provision has been one of the key obstacles facing the CLARITY Act in the Senate, following clear bipartisan disagreements over whether enforcement authority should rest with the Department of Justice or state attorneys general. Next Tuesday's procedural vote will test whether the two parties can reach a compromise on this core dispute before the Senate recesses. (politicopro)
