The <b>CLARITY Act</b> new version has been officially released, prohibiting the President and officials from issuing or sponsoring cryptocurrency for profit.

BlockBeats News, July 23, Crypto reporter Eleanor Terrett reported that Republican senators in the United States released a new version of the "CLARITY Act" after holding a briefing call with industry stakeholders. The ethical framework was negotiated by the White House with Republican Senators Cynthia Lummis and Bernie Moreno and has not yet received Democratic support.

The new text is intended to prohibit the President, Vice President, Members of Congress, federal judges, and their spouses from receiving compensation through the issuance or sponsorship of digital assets during their tenure. The relevant provisions are effective until January 20, 2029. Constrained officials must also sell their crypto assets and investments in crypto companies or place them in a blind trust beyond their control; the sale of crypto assets over $1,000 must be disclosed.

The U.S. Department of Justice will have civil enforcement power over ethical violations, including prosecuting willful violators and online platforms trading banned tokens. However, the Democratic Party opposes giving the Department of Justice sole enforcement authority without empowering state attorneys general, and these provisions may still be adjusted in the coming days.

The new version of the bill continues to incorporate the BRCA and the "Keep Your Coins Act," explicitly stating that non-custodial software developers and blockchain infrastructure providers will not be considered money transmitters solely for maintaining decentralized networks and ensuring the right of individuals to self-custody crypto assets. The stablecoin yield provision remains unchanged, prohibiting interest payments on idle payment-type stablecoin balances but allowing rewards linked to actual activities such as trading or staking.

The new text also includes a new section on crypto crime enforcement, increasing funding support for state and local investigations and requiring stablecoin issuers to lawfully freeze, seize, destroy, or reissue tokens. The bankruptcy provision clearly states that in the event of a trading platform or custodial institution bankruptcy, customer digital assets still belong to the customers and should not be included in the company's bankruptcy estate.